Ohio SB424 amends definitions and provisions for new community authorities in Ohio.

Ohio SB424 amends the definitions and provisions for new community authorities in Ohio. It redefines "new community" and "new community district" to clarify the scope and characteristics of these developments. The bill also modifies the definition of "developer" to include entities that control land through leases of at least seventy-five years' duration. Additionally, it specifies conditions under which certain taxes may not be exempted and outlines the role of proximate communities in the development process.

Ohio SB424 amends definitions and provisions for new community authorities in Ohio.

Ohio SB424 amends the definitions and provisions for new community authorities in Ohio. It redefines "new community" and "new community district" to clarify the scope and characteristics of these developments. The bill also modifies the definition of "developer" to include entities that control land through leases of at least seventy-five years' duration. Additionally, it specifies conditions under which certain taxes may not be exempted and outlines the role of proximate communities in the development process.