Budget & Taxes (Revenue)

SB 307 amends Ohio law to permit local governments to use tax increment financing (TIF) for constructing or renovating police and firefighting facilities. This change directly affects cities and counties seeking to fund public safety infrastructure, as it allows them to leverage future increases in property tax revenue from a designated area to cover project costs. The key mechanism involves designating a specific geographic zone where new tax revenue generated by development (beyond pre-project levels) is redirected to pay for the facility construction. This expands existing TIF rules, which previously excluded public safety facilities, enabling these projects to be financed through a tool commonly used for economic development.

To amend section 131.44 and to enact section 5501.62 of the Revised Code and to amend Section 755.30 of H.B. 33 of the 135th General Assembly to codify it as section 5501.61 of the Revised Code to allocate a portion of any state revenue surplus to a program that funds certain road and bridge projects.