Ohio § 5709.511 Expiring tax increment financing extension

Ohio Statutes

§ 5709.511 — Expiring tax increment financing extension

Ohio § 5709.511

Title 57Taxation

Ch. 5709Taxable Property - Exemptions

This text of Ohio § 5709.511 (Expiring tax increment financing extension) is published on Counsel Stack Legal Research, covering Ohio primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Ohio Rev. Code Ann. § 5709.511 (2026).

Text

(A)As used in this section, "multinational for-profit entity" means an entity that is organized for profit, headquartered in Ohio, and has business operations in both the United States and other countries.

(B)The legislative authority of a municipal corporation, a board of township trustees, or a board of county commissioners may amend, or provide in, an ordinance or resolution adopted in accordance with division (B) of section5709.40, section5709.41, division (B) of section5709.73, or division (A) of section5709.78of the Revised Code, as applicable, to extend the exemption from taxation of improvements to the parcel or parcels designated in the ordinance or resolution for an additional period of not more than thirty years if all of the following conditions are met:

(1)The buildings a

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(A) As used in this section, "multinational for-profit entity" means an entity that is organized for profit, headquartered in Ohio, and has business operations in both the United States and other countries.

(B) The legislative authority of a municipal corporation, a board of township trustees, or a board of county commissioners may amend, or provide in, an ordinance or resolution adopted in accordance with division (B) of section5709.40, section5709.41, division (B) of section5709.73, or division (A) of section5709.78of the Revised Code, as applicable, to extend the exemption from taxation of improvements to the parcel or parcels designated in the ordinance or resolution for an additional period of not more than thirty years if all of the following conditions are met:

(1) The buildings and structures on the parcels are owned by a multinational for-profit entity.

(2) The multinational for-profit entity has maintained a presence on the site for more than twenty-five years.

(3) The multinational for-profit entity will commit to investing at least one hundred million dollars at the location over the period of the extended exemption authorized by this section.

(4) The multinational for-profit entity will commit to retaining at least one thousand jobs related to the parcels over the period of the extended exemption authorized by this section.

(5) The improvements were previously subject to an exemption from taxation pursuant to an ordinance or resolution adopted in accordance with division (B) of section5709.40, section5709.41, division (B) of section5709.73, or division (A) of section5709.78of the Revised Code and that exemption expired after tax year 2024.

(C) Not later than fifteen days after adopting or amending an ordinance or resolution under this section, the legislative authority of the municipal corporation, board of township trustees, or board of county commissioners shall send a copy of the amendment to the director of development.

(D) The extension of a tax exemption under division (B) of this section may, as provided in the ordinance or resolution authorizing the extension, commence in tax year 2025 or any succeeding tax year and apply as applicable to succeeding tax years regardless of the effective date of this section.

Last updated January 22, 2026 at 3:37 PM