Section 1. That sections 122.171, 149.43, 718.01, 718.14, 5703.21, | 18 |
5733.98, 5747.98,
and 6111.31 be
amended and
sections 150.01, | 19 |
150.02, 150.03,
150.04, 150.05,
150.06,
150.07,
150.08, 150.09, | 20 |
150.10, 5709.211,
5725.19, 5729.08, 5733.49, 5747.80, and 6111.311 | 21 |
of
the Revised
Code
be
enacted to read as follows: | 22 |
(1) "Capital investment project" means a plan of investment | 6 |
at a project site for the acquisition, construction, renovation, | 7 |
or repair of
buildings, machinery, or equipment,
or for | 8 |
capitalized costs of basic research and new product development | 9 |
determined in accordance with generally accepted accounting | 10 |
principles, but does not
include
any of the following: | 11 |
(3) "Full-time employment position" means a position of | 44 |
employment for consideration for at least thirty-five hours a | 45 |
week, or any other standard of service generally accepted by | 46 |
custom as full-time employment within the industry, that has been | 47 |
filled for at least
one hundred eighty days immediately preceding | 48 |
the filing of an
application under this section, and for at least | 49 |
one hundred eighty days during each taxable year with respect to | 50 |
which the credit is
granted. | 51 |
(B) The tax credit authority created under section 122.17 of | 59 |
the Revised Code may grant tax credits under this section for the | 60 |
purpose of fostering job retention in this state. Upon | 61 |
application by an eligible business and upon consideration of the | 62 |
recommendation of the director of budget and management, tax | 63 |
commissioner, and director of development under division (C) of | 64 |
this section, the tax credit authority may grant to an eligible | 65 |
business a nonrefundable credit against the tax imposed by section | 66 |
5733.06 or 5747.02 of the Revised Code for a period up to ten | 67 |
taxable years. The credit shall be in an
amount not exceeding | 68 |
seventy-five per cent of the Ohio income tax withheld
from the | 69 |
employees of the eligible business occupying full-time employment | 70 |
positions at the
project site during the calendar year that | 71 |
includes the last day of such business' taxable year
with respect | 72 |
to which the
credit is granted. The amount of the credit shall | 73 |
not be based on
the Ohio income tax withheld from full-time | 74 |
employees for a
calendar year prior to the calendar year in which | 75 |
the
two hundred
million dollar minimum investment
requirement | 76 |
referred to in
division
(A)(2)(b) of this section is completed. | 77 |
The
credit shall
be
claimed only for the taxable years specified | 78 |
in the
eligible
business' agreement with the tax credit authority | 79 |
under division
(E) of this section, but in no event shall the | 80 |
credit be claimed
for a taxable year terminating before the date | 81 |
specified in the
agreement. | 82 |
(C) A taxpayer
whothat proposes a capital investment | 86 |
project to
retain jobs in this state may apply to the tax credit | 87 |
authority to
enter into an agreement for a tax credit under this | 88 |
section. The
director of development shall prescribe the form of | 89 |
the
application. After receipt of an application, the authority | 90 |
shall
forward copies of the application to the director of budget | 91 |
and
management, the tax commissioner, and the director of | 92 |
development,
each of whom shall review the application to | 93 |
determine the
economic impact the proposed project would have on | 94 |
the state and
the affected political subdivisions and shall submit | 95 |
a summary of
their determinations and recommendations to the | 96 |
authority. The
authority shall make no agreements under this | 97 |
section after June
30, 2007. | 98 |
(7) A requirement that the director of development annually | 145 |
review the annual reports of the taxpayer to verify the | 146 |
information reported under division (E)(6) of this section and | 147 |
compliance with the agreement. Upon verification, the director | 148 |
shall issue a certificate to the taxpayer stating that the | 149 |
information has been verified and identifying the amount of the | 150 |
credit for the taxable year. The director shall not issue a | 151 |
certificate for any year in which the total number of filled | 152 |
full-time employment positions for each day of the calendar year | 153 |
divided by three hundred sixty-five is less than ninety per cent | 154 |
of the full-time employment positions specified in division (E)(5) | 155 |
of this section. In determining the number of full-time | 156 |
employment positions, no position shall be counted that is filled | 157 |
by an employee who is included in the calculation of a tax credit | 158 |
under section 122.17 of the Revised Code. | 159 |
For purposes of
this section, the movement of an employment | 178 |
position from one
political subdivision to another political | 179 |
subdivision shall be
considered a relocation of an employment | 180 |
position unless the movement is confined to the project site.
The | 181 |
transfer of an individual employee from one
political
subdivision | 182 |
to another political subdivision shall not
be
considered a | 183 |
relocation of an employment position as long as
the
individual's | 184 |
employment position in the first political
subdivision is | 185 |
refilled. | 186 |
(F) If a taxpayer fails to meet or comply with any condition | 190 |
or requirement set forth in a tax credit agreement, the tax credit | 191 |
authority may amend the agreement to reduce the percentage or term | 192 |
of the credit. The reduction of the percentage or term shall take | 193 |
effect in the taxable year immediately following the taxable year | 194 |
in which the authority amends the agreement. If the taxpayer | 195 |
relocates employment positions in violation of the provision | 196 |
required under division (D)(8)(a) of this section, the taxpayer | 197 |
shall not claim the tax credit under section 5733.0610 of the | 198 |
Revised Code for any tax years following the calendar year in | 199 |
which the relocation occurs, or shall not claim the tax credit | 200 |
under section 5747.058 of the Revised Code for the taxable year in | 201 |
which the relocation occurs and any subsequent taxable years. | 202 |
(G) Financial statements and other information submitted to | 203 |
the department of development or the tax credit authority by an | 204 |
applicant for or recipient of a tax credit under this section, and | 205 |
any information taken for any purpose from such statements or | 206 |
information, are not public records subject to section 149.43 of | 207 |
the Revised Code. However, the chairperson of the authority may | 208 |
make use of the statements and other information for purposes of | 209 |
issuing public reports or in connection with court proceedings | 210 |
concerning tax credit agreements under this section. Upon the | 211 |
request of the tax commissioner, the chairperson of the authority | 212 |
shall provide to the commissioner any statement or other | 213 |
information submitted by an applicant for or recipient of a tax | 214 |
credit in connection with the credit. The commissioner shall | 215 |
preserve the confidentiality of the statement or other | 216 |
information. | 217 |
(I) For the purposes of this section, a taxpayer may include | 223 |
a partnership, a corporation that has made an election under | 224 |
subchapter S of chapter one of subtitle A of the Internal Revenue | 225 |
Code, or any other business entity through which income flows as a | 226 |
distributive share to its owners. A tax credit received under | 227 |
this section by a partnership, S-corporation, or other such | 228 |
business entity shall be apportioned among the persons to whom the | 229 |
income or profit of the partnership, S-corporation, or other | 230 |
entity is distributed, in the same proportions as those in which | 231 |
the income or profit is distributed. | 232 |
(J) If the director of development determines that a | 233 |
taxpayer
who hasthat received a tax credit under this section is | 234 |
not
complying with the requirement under division (E)(4) of this | 235 |
section
or reduces the number of employees agreed to under | 236 |
division (E)(5) of this section by more than ten per cent, the | 237 |
director shall notify the tax credit authority of the | 238 |
noncompliance. After receiving such a notice, and after giving | 239 |
the taxpayer an opportunity to explain the noncompliance, the | 240 |
authority may terminate the agreement and require the taxpayer to | 241 |
refund to the state all or a portion of the credit claimed in | 242 |
previous years, as follows: | 243 |
In determining the portion of the credit to be refunded to | 259 |
this state, the authority shall consider the effect of market | 260 |
conditions on the taxpayer's project and whether the taxpayer | 261 |
continues to maintain other operations in this state. After | 262 |
making the determination, the authority shall certify the amount | 263 |
to be refunded to the tax commissioner. The commissioner shall | 264 |
make an assessment for that amount against the taxpayer under | 265 |
Chapter 5733. or 5747. of the Revised Code. The time limitations | 266 |
on assessments under Chapter 5733. or 5747. of the Revised Code do | 267 |
not apply to an assessment under this division, but the | 268 |
commissioner shall make the assessment within one year after the | 269 |
date the authority certifies to the commissioner the amount to be | 270 |
refunded. | 271 |
If the director of development determines that a taxpayer | 272 |
that received a tax credit under this section has reduced the | 273 |
number of employees agreed to under division (E)(5) of this | 274 |
section by more than ten per cent, the director shall notify the | 275 |
tax credit authority of the noncompliance. After receiving such | 276 |
notice, and after providing the taxpayer an opportunity to explain | 277 |
the noncompliance, the authority may amend the agreement to reduce | 278 |
the percentage or term of the tax credit. The reduction in the | 279 |
percentage or term shall take effect in the taxable year in which | 280 |
the authority amends the agreement. | 281 |
(K) The director of development, after consultation with the | 282 |
tax commissioner and in accordance with Chapter 119. of the | 283 |
Revised Code, shall adopt rules necessary to implement this | 284 |
section. The rules may provide for recipients of tax credits | 285 |
under this section to be charged fees to cover administrative | 286 |
costs of the tax credit program. At the time the director gives | 287 |
public notice under division (A) of section 119.03 of the Revised | 288 |
Code of the adoption of the rules, the director shall submit | 289 |
copies of the proposed rules to the chairpersons of the standing | 290 |
committees on economic development in the senate and the house of | 291 |
representatives. | 292 |
(L) On or before the thirty-first day of March of each year, | 293 |
the director of development shall submit a report to the governor, | 294 |
the president of the senate, and the speaker of the house of | 295 |
representatives on the tax credit program under this section. The | 296 |
report shall include information on the number of agreements that | 297 |
were entered into under this section during the preceding calendar | 298 |
year, a description of the project that is the subject of each | 299 |
such agreement, and an update on the status of projects under | 300 |
agreements entered into before the preceding calendar year. | 301 |
(1) "Public record" means
records kept by
any
public | 24 |
office, including, but not limited to, state, county,
city, | 25 |
village, township, and school district units,
and records | 26 |
pertaining to the delivery of educational
services by an | 27 |
alternative
school in Ohio kept by a nonprofit or
for profit | 28 |
entity operating such
alternative school pursuant to
section | 29 |
3313.533 of the Revised
Code. "Public record" does not
mean any of | 30 |
the following: | 31 |
(3) "Medical record" means any document or combination of | 111 |
documents, except births, deaths, and the fact of admission to or | 112 |
discharge from a hospital, that pertains to the medical history, | 113 |
diagnosis, prognosis, or medical condition of a patient and that | 114 |
is generated and maintained in the process of medical treatment. | 115 |
(5) "Intellectual property record" means a record,
other | 121 |
than a financial or administrative record, that is produced or | 122 |
collected
by or for faculty or staff of a state institution of | 123 |
higher learning in the
conduct of or as a result of study or | 124 |
research on an educational, commercial,
scientific, artistic, | 125 |
technical, or scholarly issue, regardless of whether the
study or | 126 |
research was sponsored by the institution alone or in conjunction | 127 |
with
a governmental body or private concern, and that has not been | 128 |
publicly
released, published, or patented. | 129 |
(vi) The name, the residential address, the name of the | 154 |
employer,
the address of the employer, the social security number, | 155 |
the residential
telephone number, any bank account, debit card, | 156 |
charge card, or credit card
number, or the emergency telephone | 157 |
number
of the spouse, a former spouse, or any child of a peace | 158 |
officer. | 159 |
As used in divisions (A)(7) and (B)(5) of this section, | 163 |
"peace officer"
has the same meaning as in section 109.71 of the | 164 |
Revised Code
and also includes the superintendent and troopers of | 165 |
the state highway patrol;
it does not include the
sheriff of a | 166 |
county or a supervisory employee who, in the absence of the | 167 |
sheriff, is authorized to stand in for, exercise the authority of, | 168 |
and perform
the duties of the sheriff. | 169 |
(B)(1) Subject to division (B)(4) of this section, all | 188 |
public records shall
be promptly prepared and made
available for | 189 |
inspection to any person at all reasonable times
during regular | 190 |
business hours. Subject to division (B)(4) of this section,
upon | 191 |
request, a public office or person
responsible for public records | 192 |
shall make copies available at
cost, within a reasonable period of | 193 |
time. In order to facilitate
broader access to public records, | 194 |
public offices shall
maintain public records in a manner that they | 195 |
can be made
available for inspection in accordance with this | 196 |
division. | 197 |
(2) If any person chooses to obtain a copy of a public | 198 |
record in
accordance with division (B)(1) of this section,
the | 199 |
public office or person responsible for the public record shall | 200 |
permit
that person to
choose to have the public record duplicated | 201 |
upon paper, upon the same medium
upon which the public office or | 202 |
person responsible for the public record keeps
it, or upon
any | 203 |
other medium upon which the public office or person responsible | 204 |
for the
public record determines
that it reasonably can be | 205 |
duplicated
as an integral part of the normal operations of the | 206 |
public office or person
responsible for the public record. When | 207 |
the person
seeking the copy makes a choice under this division, | 208 |
the public office or
person responsible for the public record | 209 |
shall provide a copy of it in
accordance
with the choice made by | 210 |
the person seeking the copy. | 211 |
(3) Upon a request made in accordance with division (B)(1) | 212 |
of
this section, a public office or person responsible for public | 213 |
records
shall transmit a copy of a public record to any person by | 214 |
United
States mail within a reasonable period of time after | 215 |
receiving the
request for the
copy. The public office or person | 216 |
responsible for the public record may
require the person making | 217 |
the request to pay in advance the cost of postage and other | 218 |
supplies used in
the mailing. | 219 |
In any policy and procedures adopted under this division, a | 226 |
public office may limit the number of records requested by a | 227 |
person that
the office will transmit by United States mail to ten | 228 |
per
month, unless the person certifies to the office in writing | 229 |
that the person
does not intend to use or forward the requested | 230 |
records, or the information
contained
in them, for commercial | 231 |
purposes. For purposes of this division, "commercial"
shall be | 232 |
narrowly construed and does not include reporting or gathering | 233 |
news,
reporting or gathering information to assist citizen | 234 |
oversight or
understanding of the operation or activities of | 235 |
government, or nonprofit
educational research. | 236 |
(4) A public office or person responsible for public records | 237 |
is
not required to permit a person who is incarcerated pursuant to | 238 |
a
criminal conviction or a juvenile adjudication to inspect or to | 239 |
obtain a copy of any public record concerning a criminal | 240 |
investigation or prosecution or concerning what would be a | 241 |
criminal investigation or prosecution if the subject of the | 242 |
investigation or prosecution were an adult, unless the request to | 243 |
inspect or to obtain a copy of the record is for the purpose of | 244 |
acquiring information that is subject to release as a public | 245 |
record under this section and the judge who imposed the sentence | 246 |
or made the adjudication with respect to the person, or the | 247 |
judge's successor in office, finds that the information sought in | 248 |
the public record is necessary to support what appears to be a | 249 |
justiciable claim of the person. | 250 |
(5) Upon written request made and signed by a journalist on | 251 |
or after
December 16,
1999, a
public office, or person responsible | 252 |
for public records, having custody of
the records of the agency | 253 |
employing a specified peace officer shall disclose
to the | 254 |
journalist the address of the actual personal residence of the | 255 |
peace
officer and, if the peace officer's spouse, former spouse, | 256 |
or
child is employed by a public office, the name and address of | 257 |
the
employer of the peace officer's spouse, former spouse, or | 258 |
child.
The request shall include the journalist's name and title | 259 |
and the
name and address of the journalist's employer and shall | 260 |
state
that disclosure of the information sought would be in the | 261 |
public
interest. | 262 |
As used in division (B)(5) of this section, "journalist" | 263 |
means a
person engaged in, connected with, or employed by any news | 264 |
medium, including a
newspaper, magazine, press association, news | 265 |
agency, or wire service, a radio or television station, or a | 266 |
similar medium, for the purpose of gathering, processing, | 267 |
transmitting, compiling, editing, or disseminating information for | 268 |
the
general public. | 269 |
(C) If a person allegedly is aggrieved by the failure of a | 270 |
public office to promptly prepare a public record and to make
it | 271 |
available to the person for inspection in accordance with
division | 272 |
(B) of this section, or if a person who has requested a copy of a | 273 |
public record allegedly is aggrieved by the failure of a public | 274 |
office or the
person
responsible for the public record to make a | 275 |
copy available to
the person allegedly aggrieved in accordance | 276 |
with division (B) of this section, the person allegedly aggrieved | 277 |
may commence a mandamus action to obtain a judgment that orders | 278 |
the public office or the person responsible for the public
record | 279 |
to comply with division (B) of this section and that
awards | 280 |
reasonable attorney's fees to the person that instituted
the | 281 |
mandamus action. The mandamus action may be commenced in the | 282 |
court of common pleas of the county in which division (B) of this | 283 |
section allegedly was not complied with, in the supreme court | 284 |
pursuant to its original jurisdiction under Section 2 of Article | 285 |
IV, Ohio Constitution, or in the court of appeals for the | 286 |
appellate district in which division (B) of this section
allegedly | 287 |
was not complied with pursuant to its original
jurisdiction under | 288 |
Section 3 of Article IV, Ohio Constitution. | 289 |
(E)(1) The bureau of motor vehicles may adopt rules pursuant | 292 |
to
Chapter 119. of the Revised Code to reasonably
limit the number | 293 |
of bulk commercial special extraction requests made by a
person | 294 |
for the same records or for updated records during a calendar | 295 |
year.
The rules may include provisions for charges to be made for | 296 |
bulk commercial
special
extraction requests for the actual cost of | 297 |
the bureau, plus special extraction
costs, plus ten per cent. The | 298 |
bureau may charge for
expenses for redacting information, the | 299 |
release of which is prohibited by
law. | 300 |
(b) "Bulk commercial special extraction request" means a | 307 |
request
for copies of a record for information in a format other | 308 |
than the format
already available, or information that cannot be | 309 |
extracted without examination
of all items in a records series, | 310 |
class of records, or data base by a person
who intends to use or | 311 |
forward the copies for surveys, marketing, solicitation, or resale | 312 |
for
commercial purposes. "Bulk commercial special extraction | 313 |
request" does not
include a request by a person who gives | 314 |
assurance to the bureau that the
person making the request does | 315 |
not intend to use or forward the requested
copies for surveys, | 316 |
marketing,
solicitation, or resale for commercial purposes. | 317 |
(3) For purposes of divisions (E)(1)
and (2) of this | 327 |
section, "commercial surveys, marketing, solicitation, or
resale" | 328 |
shall be narrowly construed and does not include reporting or | 329 |
gathering
news, reporting or gathering information to assist | 330 |
citizen oversight or
understanding of the operation or activities | 331 |
of government, or nonprofit
educational research. | 332 |
(4)
"Ohio-based business enterprise" means a person that is | 351 |
engaged
in business, that employs at least one individual on a | 352 |
full-time or part-time basis at a place of business in this
state, | 353 |
including a person engaged in business if that person is a | 354 |
self-employed individual, and that is in the seed or early stage | 355 |
of business development requiring initial or early stage funding or is an | 356 |
established business enterprise developing new methods or | 357 |
technologies. | 358 |
(B)
The general assembly declares that its purpose in | 366 |
enacting Chapter 150. of the Revised Code is to increase the | 367 |
amount of private investment capital available in this state for Ohio-based business | 368 |
enterprises in the seed or early stages of business development | 369 |
and
requiring initial or early stage funding, as well as established Ohio-based business | 370 |
enterprises developing new methods or technologies, thereby | 371 |
increasing
employment, creating
additional wealth, and otherwise | 372 |
benefiting
the economic welfare
of the people of this state. | 373 |
Accordingly, it
is the intention of
the general assembly that the | 374 |
Ohio venture
capital authority focus
its
investment policy | 375 |
principally on venture
capital funds investing in such Ohio-based business | 376 |
enterprises. | 377 |
Sec. 150.02. (A)
There is hereby created the
Ohio venture | 378 |
capital authority, which shall exercise the powers
and perform the | 379 |
duties prescribed by
this
chapter. The exercise by
the authority | 380 |
of its powers and duties is hereby
declared
to be an
essential | 381 |
state governmental function.
The
authority is subject
to all laws | 382 |
generally applicable to state
agencies and public
officials, | 383 |
including, but not limited to, Chapter 119. and sections 121.22 | 384 |
and 149.43 of the Revised Code, to the extent those laws do not | 385 |
conflict with this chapter. | 386 |
(B) The
authority shall consist of nine members. Seven of | 387 |
the
members shall be appointed by the governor, with the advice | 388 |
and
consent of the senate, from among the general public. All | 389 |
appointed members shall
have
experience in
the field of banking, | 390 |
investments,
commercial law,
or industry
relevant to the purpose | 391 |
of the
Ohio venture
capital
program as stated in section 150.01 of | 392 |
the Revised Code. The
director of development
and
tax | 393 |
commissioner or their designees shall be ex officio,
nonvoting | 394 |
members. | 395 |
Initial gubernatorial appointees to the
authority shall serve | 396 |
staggered terms, with one term expiring on
January 31, 2004, two | 397 |
terms expiring on
January 31, 2005, two terms expiring on
January | 398 |
31,
2006, and two terms expiring on January 31, 2007. Thereafter, | 399 |
terms of
office for all
appointees shall be for four years, with | 400 |
each term ending on the same day of the same month as did the term | 401 |
that it succeeds. A
vacancy on
the authority shall be filled in | 402 |
the
same manner as the
original
appointment, except that a person | 403 |
appointed to fill a
vacancy
shall be appointed to the remainder
of | 404 |
the unexpired term.
Any
appointed member of the authority is | 405 |
eligible
for
reappointment. | 406 |
(C) Members
of the authority shall serve without | 412 |
compensation, but shall
receive their reasonable and necessary | 413 |
expenses incurred in the
conduct of authority business. The | 414 |
governor shall
designate a member of the authority to serve as | 415 |
chairperson. A majority
of the voting members of the
authority | 416 |
constitutes a
quorum, and the
affirmative vote of a
majority of | 417 |
the voting members
present is
necessary for any
action taken by | 418 |
the authority.
A vacancy in
the voting membership
of the authority | 419 |
does not impair the right
of a quorum
to exercise all
rights and | 420 |
perform all duties of the
authority. | 421 |
Sec. 150.03. Within
ninety days after the effective date of | 425 |
this section, the
authority shall establish,
and subsequently may | 426 |
modify as it considers necessary, a written investment
policy | 427 |
governing the investment of money from the
program fund, which is | 428 |
hereby created. The program fund shall consist of the proceeds of | 429 |
loans acquired by a program administrator. The authority is | 430 |
subject to
Chapter
119. of the
Revised
Code
with respect to the | 431 |
establishment or modification of
the policy. The policy
shall | 432 |
meet all the following
requirements: | 433 |
(B) Subject to divisions (C), (D), and (E) of this section, it | 436 |
permits the investment of money from the program fund in private, | 437 |
for-profit venture capital funds, including funds of funds, that | 438 |
invest in enterprises in the
seed or early stage of business | 439 |
development or established
business enterprises developing new | 440 |
methods or technologies, and
that demonstrate
potential to | 441 |
generate high levels of successful
investment
performance. | 442 |
(I)
It includes investment standards and general
limitations | 476 |
on allowable investments that the authority
considers reasonable | 477 |
and
necessary to achieve the purposes of this
chapter as stated in | 478 |
division (B) of section 150.01 of the Revised
Code,
minimize the | 479 |
need for the authority to grant tax credits
under
section 150.07 | 480 |
of the
Revised
Code,
ensure compliance of the
program | 481 |
administrators with
all applicable laws
of this state and
the | 482 |
United
States,
and
ensure the safety and soundness of investments | 483 |
of money from the program fund. | 484 |
Sec. 150.05. (A)
The
authority shall
select, as program | 510 |
administrators, not more than two private,
for-profit
investment | 511 |
funds to
acquire loans for the program fund and to invest money in | 512 |
the program fund as prescribed
in the investment
policy | 513 |
established or modified by the authority
in accordance with | 514 |
sections 150.03
and 150.04 of the Revised
Code. To be eligible | 515 |
for selection, an investment fund must be incorporated or | 516 |
organized
under
Chapter
1701.,
1705., 1775., 1782., or 1783. of | 517 |
the Revised
Code, must have an established business presence in | 518 |
this state, and must be capitalized in accordance with any state | 519 |
and federal laws applicable to the issuance or sale of securities. | 520 |
The authority shall select program administrators only
after | 521 |
soliciting and evaluating requests for proposals as
prescribed in | 522 |
this section. The authority shall publish a notice
of a request | 523 |
for proposals in newspapers of general circulation in
this state | 524 |
once each week for two consecutive weeks before a date
specified | 525 |
by the authority as the date on which it will begin
accepting | 526 |
proposals. The notices shall contain a general
description of the | 527 |
subject of the proposed agreement and the
location where the | 528 |
request for proposals may be obtained. The
request for proposals | 529 |
shall include all the following: | 530 |
The authority shall choose for review proposals from at least | 553 |
three respondents the authority considers qualified to operate the | 554 |
program in the best interests of the investment policy
adopted by | 555 |
the authority. If three or fewer proposals are
submitted, the | 556 |
authority shall review each proposal. The
authority may cancel a | 557 |
request for proposals at any time before
entering into an | 558 |
agreement with a respondent. The authority
shall
provide | 559 |
respondents fair and equal opportunity for such
discussions. The | 560 |
authority may terminate discussions with any
respondent upon | 561 |
written notice to the respondent. | 562 |
(7)
Specify any general
limitations regarding the
employment | 600 |
of a fund manager by the
program administrator, in
addition to
an | 601 |
express limitation that the fund
manager be a
person with | 602 |
demonstrated, substantial, successful
experience in
the design and | 603 |
management of seed
and venture
capital investment
programs and in | 604 |
capital
formation. The fund manager may be, but
need not be, an | 605 |
equity owner or affiliate of the program
administrator. | 606 |
(9)
Require the program administrator or fund manager employed by the program administrator to provide
capital | 613 |
in the form of a loan equal to one per cent of the
amount of | 614 |
outstanding loans by lenders to the program fund. The loan from the program administrator or fund manager shall be on the same terms and conditions as loans from other lenders, except that the loan from the program administrator or fund manager shall not be secured by the Ohio venture capital fund or tax credits available to other lenders under division (B) of section 150.04 of the Revised Code. Such | 615 |
capital shall be placed at the same risk as the
proceeds from such | 616 |
loans. The program administrator shall receive
a pro rata share | 617 |
of the net income, including net loss, from the
investment of | 618 |
money from the program fund, but is not
entitled to the security | 619 |
against losses provided under section
150.04 of the Revised Code. | 620 |
Sec. 150.07.
(A) For the purpose stated in section 150.01 | 641 |
of the Revised Code, the authority may authorize a lender to claim | 642 |
one of
the tax credits allowed under section | 643 |
5725.19, 5729.08,
5733.49,
or 5747.80 of the Revised Code. The | 644 |
credits shall be
authorized by a written contract with the lender. | 645 |
The contract
shall specify the terms under which the lender may | 646 |
claim the
credit, including the amount of loss, if any, the lender | 647 |
must
incur before the lender may claim the credit; specify that | 648 |
the
credit
shall not exceed
the amount of the loss; and specify | 649 |
that
the lender may claim the
credit only for a loss certified by | 650 |
a
program
administrator to the
authority under the procedures | 651 |
prescribed
under division (B)(6) of
section 150.05 of the Revised | 652 |
Code. | 653 |
(C) Upon receiving certification of a lender's loss from | 660 |
a
program administrator pursuant to the procedures in the | 661 |
investment
policy, the authority shall issue a tax credit | 662 |
certificate to the
lender, except as otherwise provided in | 663 |
division (D) of this section. The authority shall not issue a certificate until the lender, in the manner prescrived by the authority, elects to receive a refundable or nonrefundable tax credit. The election, once made, is irrevocable. The certificate shall state
the | 664 |
amount of the credit, whether the credit is refundable or nonrefundable,
and
the calendar year,
under
section 5725.19 | 665 |
or 5729.08, the tax
year,
under
section
5733.49,
or the taxable | 666 |
year under
section
5747.80
of the Revised
Code, for
which the | 667 |
credit may be
claimed.
The
authority, in
conjunction
with the tax | 668 |
commissioner,
shall
develop
a system for
issuing tax credit | 669 |
certificates
for the
purpose of
verifying
that any
credit claimed
| 670 |
is
a credit
issued
under this
section and
is
properly taken in | 671 |
the
year specified in
the
certificate and in
compliance with | 672 |
division
(B)
of
this
section. | 673 |
(C) If the amount in the venture capital fund exceeds the | 713 |
amount reasonably necessary to provide security against such | 714 |
losses, the excess may be used, upon appropriation by the general | 715 |
assembly, to provide scholarships or other financial assistance to | 716 |
students enrolled in a course of study in the fields of physical | 717 |
or natural sciences, mathematics, or engineering at an institution | 718 |
of higher education in this state. | 719 |
Sec. 150.10. (A)
On
the first day of January
of the second | 725 |
year after the date of entering into an agreement
under section | 726 |
150.05 of the
Revised
Code
and of each ensuing year, the
authority | 727 |
shall file with the clerk
of the house
of
representatives, the | 728 |
clerk of the senate, and
the chairpersons
of
the house and senate | 729 |
standing committees
predominantly
concerned
with economic | 730 |
development a written
report on the
Ohio
venture
capital program. | 731 |
The report shall include all the following: | 732 |
(B) During each year that a report is issued under division | 752 |
(A) of this section, the chairperson of the authority, or
another | 753 |
member of the authority designated
by the
chairperson
as the | 754 |
authority's representative, shall
be
required to appear in
person | 755 |
before the standing committees of the
house and
senate | 756 |
predominantly concerned
with economic development
to give | 757 |
testimony concerning the status of the
Ohio venture
capital | 758 |
program. | 759 |
(4)
"Intangible income" means income of any of the following | 767 |
types: income
yield, interest, dividends, or other income arising | 768 |
from the ownership, sale,
exchange, or other disposition of | 769 |
intangible property including, but not
limited to, investments, | 770 |
deposits, money, or credits as those terms are
defined in Chapter | 771 |
5701. of the Revised Code. | 772 |
(C) No municipal corporation shall levy a tax on income at a | 779 |
rate in excess
of one per cent without having obtained the | 780 |
approval of the excess by a
majority of the electors of the | 781 |
municipality voting on the question at a
general, primary, or | 782 |
special election. The legislative authority of the
municipal | 783 |
corporation shall file with the board of elections at least | 784 |
seventy-five days before the day of the election a copy of the | 785 |
ordinance
together with a resolution specifying the date the | 786 |
election is to be held and
directing the board of elections to | 787 |
conduct the election. The ballot shall be
in the following form: | 788 |
"Shall the Ordinance providing for a ... per cent levy
on income | 789 |
for (Brief description of the purpose of the proposed levy) be | 790 |
passed? | 791 |
(2) The legislative authority of a municipal corporation | 801 |
may, by ordinance or
resolution, exempt from a tax on income any | 802 |
compensation arising from the
grant, sale, exchange, or other | 803 |
disposition of a stock option; the exercise of
a stock option; or | 804 |
the sale, exchange, or other disposition of stock purchased
under | 805 |
a stock option. | 806 |
(E) Nothing in this section shall prevent a municipal | 807 |
corporation from
permitting lawful deductions as prescribed by | 808 |
ordinance. If a taxpayer's
taxable income includes income against | 809 |
which the taxpayer has taken a
deduction for federal income tax | 810 |
purposes as reportable on the taxpayer's form
2106, and against | 811 |
which a like deduction has not been allowed by the municipal | 812 |
corporation, the municipal corporation shall deduct from the | 813 |
taxpayer's
taxable income an amount equal to the deduction shown | 814 |
on such form allowable
against such income, to the extent not | 815 |
otherwise so allowed as a deduction by
the municipal corporation. | 816 |
In the case of a taxpayer who has a net profit
from a business or | 817 |
profession that is operated as a sole proprietorship, no
municipal | 818 |
corporation may tax or use as the base for determining the amount | 819 |
of
the net profit that shall be considered as having a taxable | 820 |
situs in the
municipal corporation, a greater amount than the net | 821 |
profit reported by the
taxpayer on schedule C filed in reference | 822 |
to the year in question as taxable
income from such sole | 823 |
proprietorship, except as otherwise specifically
provided by | 824 |
ordinance or regulation. | 825 |
(5) Compensation paid to an employee of a transit authority, | 845 |
regional transit
authority, or regional transit commission created | 846 |
under Chapter 306. of the
Revised Code for operating a transit bus | 847 |
or other motor vehicle for the
authority or commission in or | 848 |
through the municipal corporation, unless the
bus or vehicle is | 849 |
operated on a regularly scheduled route, the operator is
subject | 850 |
to such a tax by reason of residence or domicile in the municipal | 851 |
corporation, or the headquarters of the authority or commission is | 852 |
located
within the municipal corporation; | 853 |
(6) The income of a public utility when that public utility | 854 |
is
subject to the tax levied under section 5727.24 or 5727.30 of | 855 |
the Revised
Code, except starting January 1, 2002, the income of | 856 |
an
electric company or combined company, as defined in section | 857 |
5727.01 of the
Revised Code, may
be taxed by a municipal | 858 |
corporation, subject to
Chapter 5745. of the
Revised Code. | 859 |
(G) Any municipal corporation that taxes any type of | 870 |
intangible income on
March 29, 1988, pursuant to Section 3 of | 871 |
Amended Substitute Senate Bill No.
238 of the 116th general | 872 |
assembly, may continue to tax that type of income
after 1988 if a | 873 |
majority of the electors of the municipal corporation voting
on | 874 |
the question of whether to permit the taxation of that type of | 875 |
intangible
income after 1988 vote in favor thereof at an election | 876 |
held on November 8,
1988. | 877 |
(B) On and after January 1, 2003, any municipal
corporation | 911 |
imposing a tax that applies to income from a pass-through
entity | 912 |
shall grant a
credit to each owner who is domiciled in the | 913 |
municipal corporation
for
taxes paid to another municipal | 914 |
corporation by a pass-through entity that does
not conduct | 915 |
business
in the municipal corporation. The amount of the credit | 916 |
shall
equal the lesser of the following amounts, subject to | 917 |
division (C)
of this section: | 918 |
(D) On and after January 1, 2003, any municipal
corporation | 932 |
that
imposes a tax on income of or from a pass-through entity | 933 |
shall specify by ordinance or rule
whether the tax applies to | 934 |
income of the pass-through entity
in the hands of the
entity or to | 935 |
income from the pass-through entity in the hands of
the owners of | 936 |
the entity. A municipal corporation may specify a
different | 937 |
ordinance or rule under this division for each of the classes
of | 938 |
pass-through entity enumerated in division (A)(3)(2) of this | 939 |
section. | 940 |
Sec. 5703.21. (A) Except as provided in divisions (B) and | 941 |
(C) of this section, no agent
of the department of taxation, | 942 |
except in the agent's report to the department or when called on | 943 |
to
testify in any court or proceeding, shall divulge any | 944 |
information
acquired by the agent as to the transactions, | 945 |
property, or business
of any person while acting or claiming to | 946 |
act under orders of the
department. Whoever violates this | 947 |
provision shall thereafter be
disqualified from acting as an | 948 |
officer or employee or in any
other capacity under appointment or | 949 |
employment of the department. | 950 |
(B)(1) For purposes of an audit pursuant to section 117.15 | 951 |
of the Revised Code, or an audit of the department pursuant to | 952 |
Chapter 117. of the Revised Code, or an audit, pursuant to that | 953 |
chapter, the objective of which is to express an opinion on a | 954 |
financial report or statement prepared or issued pursuant to | 955 |
division (A)(7) or (9) of section
126.21 of
the Revised Code, the | 956 |
officers and employees of the auditor of state charged with | 957 |
conducting the audit shall have access to and the right to
examine | 958 |
any state tax returns and state tax return information in
the | 959 |
possession of the department to the extent that the
access
and | 960 |
examination are necessary for purposes of the audit. Any | 961 |
information acquired as the result of that access and
examination | 962 |
shall not be divulged for any purpose other than as required for | 963 |
the audit or unless the officers and employees are required
to | 964 |
testify in a court or proceeding under compulsion of legal | 965 |
process. Whoever violates this provision shall thereafter be | 966 |
disqualified from acting as an officer or employee or in any
other | 967 |
capacity under appointment or employment of the auditor of
state. | 968 |
(7) Providing information regarding the name, account | 998 |
number, or business
address of a holder of a vendor's
license | 999 |
issued pursuant to section 5739.17 of the Revised Code, a holder | 1000 |
of a
direct payment permit issued pursuant to section 5739.031 of | 1001 |
the
Revised Code, or a seller having a use tax account maintained | 1002 |
pursuant to
section 5741.17 of the Revised Code, or information | 1003 |
regarding the active or inactive status of a vendor's license, | 1004 |
direct payment permit, or seller's use tax account; | 1005 |
As soon as is practicable after receiving an | 1012 |
application for a tax exemption certificate, the | 1013 |
tax commissioner shall provide a copy of the application and of any accompanying documentation to the county auditor of the county in which the facility is located. The copy shall be accompanied by a statement showing an estimate of what the assessed value of the facility would be, based on the appropriate assessment percentage, if the facility were to be taxable, and an estimate of the taxes that would be chargeable against the facility computed on the basis of the rate of taxation in the taxing district in the year in which the application is received. Within sixty days | 1018 |
after receiving such a statement, the county auditor shall issue a | 1019 |
notice to the taxing authority of each taxing unit in which the | 1020 |
facility is or is to be located. The notice shall state that an | 1021 |
application for a tax exemption certificate has | 1022 |
been filed for the facility; the | 1024 |
estimated assessed value of the facility shown on the statement; | 1025 |
the annual amount of taxes that would be charged and payable on | 1026 |
that value at the current rate of taxation in effect in the taxing | 1027 |
unit; and that, if approved, the application entitles the facility | 1028 |
to exemption from taxation and the taxing unit may be required to | 1029 |
refund any taxes on the facility accruing after the certificate becomes effective. The tax commissioner shall issue an amended | 1031 |
statement if, after the original statement is issued, the estimate | 1032 |
of such assessed value increases or decreases by more than ten per | 1033 |
cent of the
estimated value shown on the most recently issued | 1034 |
statement or
amended statement, and the county auditor shall issue | 1035 |
an amended
notice reflecting such change. | 1036 |
The tax commissioner's statement and the county auditor's | 1037 |
notice are issued exclusively for the purpose of notifying taxing | 1038 |
authorities of the potential for a refund of taxes paid on a facility before a tax exemption | 1040 |
certificate is issued. The statement and notice are not | 1041 |
appealable by any person and do not constitute an assessment that | 1042 |
is subject to a petition for reassessment by the taxpayer. The | 1043 |
notice issued by the county auditor does not constitute a notice | 1044 |
required by law to be given for the purpose of section 5717.02 of | 1045 |
the Revised Code. | 1046 |
Sec. 5725.19. Upon the issuance of a tax credit certificate | 1047 |
by the Ohio
venture
capital authority under section 150.07 of the | 1048 |
Revised Code, a credit
may be
claimed against the | 1049 |
tax imposed on a domestic insurance
company
under section 5725.18 | 1050 |
of the Revised Code. The credit
shall be
claimed in the calendar | 1051 |
year specified in the certificate
issued
by the authority. If the company elected a refundable credit under section 150.07 of the Revised Code, and the amount of the credit shown on the certificate exceeds the tax otherwise due inder section 5725.18 of the Revised Code, the company may receive a refund equal to seventy-five per cent of such excess. If the company elected a nonrefundable credit, the amount of the credit shown on the certificate shall not exceed the aount of tax otherwise due. | 1052 |
Sec. 5729.08. Upon the issuance of a tax credit certificate | 1053 |
by the Ohio
venture
capital authority under section 150.07 of the | 1054 |
Revised Code, a credit
may be
claimed against the | 1055 |
tax imposed on a foreign insurance
company
under section 5729.03 | 1056 |
of the Revised Code. The credit
shall be
claimed in the calendar | 1057 |
year specified in the certificate
issued
by the authority. If the company elected a refundable credit under section 150.07 of the Revised Code, and the amount of the credit shown on the certificate exceeds the tax otherwise due under section 5729.03 of the Revised Code, the company may receive a refund equal to seventy-five per cent of such excess. If the company elected a nonrefundable credit, the amount of the credit shown on the certificate shall not exceed the amount of tax otherwise due. | 1058 |
(B) For any credit, except the refundable credits enumerated | 1223 |
in
this
section
and
the
credit granted under division
(I) of | 1224 |
section
5747.08 of
the
Revised Code, the amount of the credit
for | 1225 |
a
taxable year
shall
not
exceed the tax due after allowing for any | 1226 |
other credit
that
precedes it in the order required under this | 1227 |
section. Any
excess
amount of a particular credit may be carried | 1228 |
forward if
authorized
under the section creating that credit. | 1229 |
Nothing in this
chapter
shall be construed to allow a taxpayer to | 1230 |
claim, directly
or
indirectly, a
credit more than once for a | 1231 |
taxable year. | 1232 |
Sec. 6111.31. Appliances, equipment, machinery, and | 1233 |
structures comprising all or a part of an industrial water | 1234 |
pollution control facility as defined in section 6111.01 of the | 1235 |
Revised Code, and installed pursuant to the approval of the | 1236 |
environmental protection agency or any other governmental agency | 1237 |
having authority to approve the installation of industrial or | 1238 |
other water pollution abatement or control facilities, and which | 1239 |
is initially placed in operation, or is initially capable of | 1240 |
operation on or after December 31, 1965, shall be excepted from | 1241 |
personal property taxes, franchise taxes and sales and use taxes, | 1242 |
as provided in this section. Application for an industrial water | 1243 |
pollution control certificate shall be filed with the director of | 1244 |
environmental protection in such manner and in such form as may
be | 1245 |
prescribed by regulations adopted and promulgated by the
director | 1246 |
and shall contain plans and specifications of the
structure or | 1247 |
structures, including all materials to be
incorporated therein, | 1248 |
and a descriptive list of all appliances,
equipment, and machinery | 1249 |
to be used as an industrial water
pollution control facility. | 1250 |
Within thirty days after receiving such an application, the | 1251 |
director shall forward a copy of the application to the tax | 1252 |
commissioner. The director shall promptly
determine whether such | 1253 |
application should be allowed or
disallowed, in whole or in part, | 1254 |
and shall give notice of such
determination by mail to the | 1255 |
applicant, the tax commissioner, and
the auditor of the county or | 1256 |
counties in which the structure or
items described in the | 1257 |
application will be located. | 1258 |
Within fifteen days after the date of the mailing of such | 1259 |
notice the applicant, the tax commissioner, or such county
auditor | 1260 |
may apply in writing for a reconsideration of the
director's | 1261 |
determination and request the director to hold a
hearing on such | 1262 |
application. Upon receipt of such application
for reconsideration | 1263 |
and request for hearing, the director shall
set a date for such | 1264 |
hearing and send notice thereof by mail to
all persons notified of | 1265 |
the filing of such application. Such
hearing shall be held not | 1266 |
less than fifteen nor more than thirty
days from the date of the | 1267 |
mailing of the notice thereof. | 1268 |
If no application for reconsideration and request for
hearing | 1269 |
is filed within such period of fifteen days, the
director's | 1270 |
determination shall be final. If such application and
request is | 1271 |
filed, the director, after such hearing, shall finally
determine | 1272 |
whether the application for an industrial water
pollution control | 1273 |
certificate should be allowed or disallowed, in
whole or in part, | 1274 |
and shall send notice thereof by mail to all
persons notified of | 1275 |
the application for reconsideration. | 1276 |
The effective date of such certificate shall be the date
when | 1282 |
the item or items described therein are acquired or when
title to | 1283 |
or possession of such item or items is first transferred
to the | 1284 |
applicant or when construction of any structure or
structures | 1285 |
enumerated therein begins, whichever is earlier,
provided such | 1286 |
application shall not relate to facilities placed
in operation or | 1287 |
capable of operation prior to December 31, 1965,
and shall remain | 1288 |
in force and effect until revoked or modified as
provided by | 1289 |
section 6111.32 or 6111.33 of the Revised Code. | 1290 |
Sec. 6111.311. As soon as is practicable after receiving a | 1298 |
copy of an
application for an industrial water pollution control | 1299 |
certificate from the director of environmental protection under | 1300 |
section 6111.31 of the Revised Code, the
tax commissioner shall | 1301 |
estimate the assessed value of the industrial water pollution | 1302 |
control facility that is the subject of the
application and shall | 1303 |
issue a statement showing such value and the
effective date of the | 1304 |
certificate, if known, to the county auditor
of the county in | 1305 |
which the facility is located. The tax commissioner is not | 1306 |
required to issue the statement if, before issuing the statement, | 1307 |
the tax commissioner receives notice of the director's | 1308 |
determination allowing or disallowing the application. Within | 1309 |
sixty days
after receiving such a statement, the county auditor | 1310 |
shall issue a
notice to the taxing authority of each taxing unit | 1311 |
in which the
facility is or is to be located, unless the county | 1312 |
auditor has, within that period, received notice of the director's | 1313 |
determination allowing or
disallowing the application. The notice | 1314 |
shall state that an
application for an industrial water pollution | 1315 |
control facility has
been filed for the facility; the effective | 1316 |
date of the certificate
if the date is shown on the tax | 1317 |
commissioner's statement; the
estimated assessed value of the | 1318 |
facility shown on the statement;
the annual amount of taxes that | 1319 |
would be charged and payable on
that value at the current rate of | 1320 |
taxation in effect in the taxing
unit; and that, if approved, the | 1321 |
application entitles the facility
to exemption from taxation and | 1322 |
the taxing unit may be required to
refund any taxes on the | 1323 |
facility accruing after the effective date
of the certificate.
The | 1324 |
tax commissioner shall issue an amended
statement if, after
the | 1325 |
original statement is issued, the estimate
of such assessed
value | 1326 |
increases or decreases by more than ten per cent of the
estimated | 1327 |
value shown on the most recently issued statement or
amended | 1328 |
statement, and the county auditor shall issue an amended
notice | 1329 |
reflecting such change. | 1330 |
The tax commissioner's statement and the county auditor's | 1331 |
notice are issued exclusively for the purpose of notifying taxing | 1332 |
authorities of the potential for a refund of taxes paid on an | 1333 |
industrial water pollution control facility before a pollution | 1334 |
control
certificate is issued. The statement and notice are not | 1335 |
appealable by any person and do not constitute an assessment that | 1336 |
is subject to a petition for reassessment by the taxpayer. The | 1337 |
notice issued by the county auditor does not constitute a notice | 1338 |
required by law to be given for the purpose of section 5717.02 of | 1339 |
the Revised Code. | 1340 |
The enactment of those sections also applies to such | 1349 |
applications filed before the effective date of this act if such a | 1350 |
certificate has not been issued before January 1, 2004. With | 1351 |
respect to such applications, the Tax Commissioner shall issue the | 1352 |
statements required by those sections as soon as is practicable | 1353 |
after that effective date, and county auditors shall issue the | 1354 |
notices required by those sections within sixty days after such a | 1355 |
statement is received by the county auditor. | 1356 |
(B) Notwithstanding section 5715.13 or division (A) of | 1371 |
section 5715.19 of the
Revised Code, a qualifying taxpayer or a | 1372 |
qualifying taxpayer's
attorney may file, with the proper county | 1373 |
board of revision, a
complaint with respect to property described | 1374 |
in division (A) of
this section and with respect to any tax years | 1375 |
to which the
original complaints related and occurring within one | 1376 |
sexennial
reappraisal period within the ten years preceding the | 1377 |
effective
date of this section. The complaint shall be filed not | 1378 |
later than
six months after the effective date of this section. | 1379 |
Upon the
proper and timely filing of a complaint under this | 1380 |
section, the
board of revision shall proceed as otherwise | 1381 |
prescribed in Chapter
5715. of the Revised Code and shall certify | 1382 |
its action to the
county auditor. Notwithstanding section 5715.22 | 1383 |
of the Revised
Code, if the board of revision finds that the | 1384 |
amount of taxes,
assessments, and charges paid for the tax years | 1385 |
to which the
complaint relates exceeds the amount due for those | 1386 |
years, the
county auditor shall not draw a warrant for the refund | 1387 |
of the
overpayment or any portion thereof, and shall not credit | 1388 |
the
overpayment or any portion thereof against the amount of any | 1389 |
taxes, assessments, or charges that may be due in the future from | 1390 |
the qualifying taxpayer. The county auditor shall adjust the | 1391 |
amount of taxes, assessments, and charges shown to be due on the | 1392 |
current tax list from the years to which the complaint relates in | 1393 |
accordance with the board's finding, and shall certify such | 1394 |
adjustment to the county treasurer, who shall adjust the tax | 1395 |
duplicate accordingly. | 1396 |
(C) It is the intent of the
General Assembly to exercise its | 1397 |
authority under Ohio
Constitution, Article II, Section 28, to pass | 1398 |
a general law
authorizing courts to carry into effect, upon such | 1399 |
terms as are
just and equitable, the manifest intention of | 1400 |
parties, and
officers, by curing omissions, defects, and errors in | 1401 |
instruments
and proceedings arising out of their want of | 1402 |
conformity with the
laws of this state. This section is remedial | 1403 |
legislation and does not affect pending or past complaints where | 1404 |
jurisdiction over a complainant absolutely vested with a county | 1405 |
board of revision. It is the intent of the General
Assembly that | 1406 |
if a board of revision never had jurisdiction over a complainant | 1407 |
because the complainant's previous complaint failed to vest | 1408 |
jurisdictional validity because of an unauthorized practice of law | 1409 |
violation, then no rights have vested with respect to the | 1410 |
determination of the total valuation or assessment of a commercial | 1411 |
parcel owned by the complainant, and, as such, there is not a | 1412 |
reasonable expectation of finality with regard to said | 1413 |
determination. Further, it is the intent of the General Assembly | 1414 |
that this section merely modifies the existing right of a property | 1415 |
owner, granted under sections 5715.13 and 5715.19 of the Revised | 1416 |
Code, to file a complaint against a determination of the total | 1417 |
valuation or assessment of a commercial parcel owned by the | 1418 |
complainant, by expanding the statute of limitations under which a | 1419 |
complaint can be filed. | 1420 |