Sec. 5709.62. (A) In any municipal corporation that is | 8 |
defined by the United States office of management and budget as a | 9 |
principal city of a metropolitan statistical area, the legislative | 10 |
authority of the municipal corporation may designate one or more | 11 |
areas within its municipal corporation as proposed enterprise | 12 |
zones. Upon designating an area, the legislative authority shall | 13 |
petition the director of development services for certification of | 14 |
the area as having the characteristics set forth in division | 15 |
(A)(1) of section 5709.61 of the Revised Code as amended by | 16 |
Substitute Senate Bill No. 19 of the 120th general assembly. | 17 |
Except as otherwise provided in division (E) of this section, on | 18 |
and after July 1, 1994, legislative authorities shall not enter | 19 |
into agreements under this section unless the legislative | 20 |
authority has petitioned the director and the director has | 21 |
certified the zone under this section as amended by that act; | 22 |
however, all agreements entered into under this section as it | 23 |
existed prior to July 1, 1994, and the incentives granted under | 24 |
those agreements shall remain in effect for the period agreed to | 25 |
under those agreements. Within sixty days after receiving such a | 26 |
petition, the director shall determine whether the area has the | 27 |
characteristics set forth in division (A)(1) of section 5709.61 of | 28 |
the Revised Code, and shall forward the findings to the | 29 |
legislative authority of the municipal corporation. If the | 30 |
director certifies the area as having those characteristics, and | 31 |
thereby certifies it as a zone, the legislative authority may | 32 |
enter into an agreement with an enterprise under division (C) of | 33 |
this section. | 34 |
(2) An estimate of the amount to be invested by the | 47 |
enterprise to establish, expand, renovate, or occupy a facility, | 48 |
including investment in new buildings, additions or improvements | 49 |
to existing buildings, machinery, equipment, furniture, fixtures, | 50 |
and inventory; | 51 |
The enterprise shall review and update the listings required | 54 |
under this division to reflect material changes, and any agreement | 55 |
entered into under division (C) of this section shall set forth | 56 |
final estimates and listings as of the time the agreement is | 57 |
entered into. The legislative authority may, on a separate form | 58 |
and at any time, require any additional information necessary to | 59 |
determine whether an enterprise is in compliance with an agreement | 60 |
and to collect the information required to be reported under | 61 |
section 5709.68 of the Revised Code. | 62 |
(C) Upon receipt and investigation of a proposal under | 63 |
division (B) of this section, if the legislative authority finds | 64 |
that the enterprise submitting the proposal is qualified by | 65 |
financial responsibility and business experience to create and | 66 |
preserve employment opportunities in the zone and improve the | 67 |
economic climate of the municipal corporation, the legislative | 68 |
authority, on or before October 15, 20132015, may do one of the | 69 |
following: | 70 |
(a) Exemption for a specified number of years, not to exceed | 76 |
fifteen, of a specified portion, up to seventy-five per cent, of | 77 |
the assessed value of tangible personal property first used in | 78 |
business at the project site as a result of the agreement. If an | 79 |
exemption for inventory is specifically granted in the agreement | 80 |
pursuant to this division, the exemption applies to inventory | 81 |
required to be listed pursuant to sections 5711.15 and 5711.16 of | 82 |
the Revised Code, except that, in the instance of an expansion or | 83 |
other situations in which an enterprise was in business at the | 84 |
facility prior to the establishment of the zone, the inventory | 85 |
that is exempt is that amount or value of inventory in excess of | 86 |
the amount or value of inventory required to be listed in the | 87 |
personal property tax return of the enterprise in the return for | 88 |
the tax year in which the agreement is entered into. | 89 |
(2) Enter into an agreement under which the enterprise agrees | 99 |
to remediate an environmentally contaminated facility, to spend an | 100 |
amount equal to at least two hundred fifty per cent of the true | 101 |
value in money of the real property of the facility prior to | 102 |
remediation as determined for the purposes of property taxation to | 103 |
establish, expand, renovate, or occupy the remediated facility, | 104 |
and to hire new employees or preserve employment opportunities for | 105 |
existing employees at the remediated facility, in return for one | 106 |
or more of the following incentives: | 107 |
(3) Enter into an agreement with an enterprise that plans to | 120 |
purchase and operate a large manufacturing facility that has | 121 |
ceased operation or announced its intention to cease operation, in | 122 |
return for exemption for a specified number of years, not to | 123 |
exceed fifteen, of a specified portion, up to one hundred per | 124 |
cent, of the assessed value of tangible personal property used in | 125 |
business at the project site as a result of the agreement, or of | 126 |
the assessed valuation of real property constituting the project | 127 |
site, or both. | 128 |
(D)(1) Notwithstanding divisions (C)(1)(a) and (b) of this | 129 |
section, the portion of the assessed value of tangible personal | 130 |
property or of the increase in the assessed valuation of real | 131 |
property exempted from taxation under those divisions may exceed | 132 |
seventy-five per cent in any year for which that portion is | 133 |
exempted if the average percentage exempted for all years in which | 134 |
the agreement is in effect does not exceed sixty per cent, or if | 135 |
the board of education of the city, local, or exempted village | 136 |
school district within the territory of which the property is or | 137 |
will be located approves a percentage in excess of seventy-five | 138 |
per cent. | 139 |
(2) Notwithstanding any provision of the Revised Code to the | 140 |
contrary, the exemptions described in divisions (C)(1)(a), (b), | 141 |
and (c), (C)(2)(a), (b), and (c), and (C)(3) of this section may | 142 |
be for up to fifteen years if the board of education of the city, | 143 |
local, or exempted village school district within the territory of | 144 |
which the property is or will be located approves a number of | 145 |
years in excess of ten. | 146 |
(3) For the purpose of obtaining the approval of a city, | 147 |
local, or exempted village school district under division (D)(1) | 148 |
or (2) of this section, the legislative authority shall deliver to | 149 |
the board of education a notice not later than forty-five days | 150 |
prior to approving the agreement, excluding Saturdays, Sundays, | 151 |
and legal holidays as defined in section 1.14 of the Revised Code. | 152 |
The notice shall state the percentage to be exempted, an estimate | 153 |
of the true value of the property to be exempted, and the number | 154 |
of years the property is to be exempted. The board of education, | 155 |
by resolution adopted by a majority of the board, shall approve or | 156 |
disapprove the agreement and certify a copy of the resolution to | 157 |
the legislative authority not later than fourteen days prior to | 158 |
the date stipulated by the legislative authority as the date upon | 159 |
which approval of the agreement is to be formally considered by | 160 |
the legislative authority. The board of education may include in | 161 |
the resolution conditions under which the board would approve the | 162 |
agreement, including the execution of an agreement to compensate | 163 |
the school district under division (B) of section 5709.82 of the | 164 |
Revised Code. The legislative authority may approve the agreement | 165 |
at any time after the board of education certifies its resolution | 166 |
approving the agreement to the legislative authority, or, if the | 167 |
board approves the agreement conditionally, at any time after the | 168 |
conditions are agreed to by the board and the legislative | 169 |
authority. | 170 |
If a board of education has adopted a resolution waiving its | 171 |
right to approve agreements and the resolution remains in effect, | 172 |
approval of an agreement by the board is not required under this | 173 |
division. If a board of education has adopted a resolution | 174 |
allowing a legislative authority to deliver the notice required | 175 |
under this division fewer than forty-five business days prior to | 176 |
the legislative authority's approval of the agreement, the | 177 |
legislative authority shall deliver the notice to the board not | 178 |
later than the number of days prior to such approval as prescribed | 179 |
by the board in its resolution. If a board of education adopts a | 180 |
resolution waiving its right to approve agreements or shortening | 181 |
the notification period, the board shall certify a copy of the | 182 |
resolution to the legislative authority. If the board of education | 183 |
rescinds such a resolution, it shall certify notice of the | 184 |
rescission to the legislative authority. | 185 |
(F) All agreements entered into under this section shall be | 221 |
in the form prescribed under section 5709.631 of the Revised Code. | 222 |
After an agreement is entered into under this section, if the | 223 |
legislative authority revokes its designation of a zone, or if the | 224 |
director of development services revokes a zone's certification, | 225 |
any entitlements granted under the agreement shall continue for | 226 |
the number of years specified in the agreement. | 227 |
(G) Except as otherwise provided in this division, an | 228 |
agreement entered into under this section shall require that the | 229 |
enterprise pay an annual fee equal to the greater of one per cent | 230 |
of the dollar value of incentives offered under the agreement or | 231 |
five hundred dollars; provided, however, that if the value of the | 232 |
incentives exceeds two hundred fifty thousand dollars, the fee | 233 |
shall not exceed two thousand five hundred dollars. The fee shall | 234 |
be payable to the legislative authority once per year for each | 235 |
year the agreement is effective on the days and in the form | 236 |
specified in the agreement. Fees paid shall be deposited in a | 237 |
special fund created for such purpose by the legislative authority | 238 |
and shall be used by the legislative authority exclusively for the | 239 |
purpose of complying with section 5709.68 of the Revised Code and | 240 |
by the tax incentive review council created under section 5709.85 | 241 |
of the Revised Code exclusively for the purposes of performing the | 242 |
duties prescribed under that section. The legislative authority | 243 |
may waive or reduce the amount of the fee charged against an | 244 |
enterprise, but such a waiver or reduction does not affect the | 245 |
obligations of the legislative authority or the tax incentive | 246 |
review council to comply with section 5709.68 or 5709.85 of the | 247 |
Revised Code. | 248 |
(H) When an agreement is entered into pursuant to this | 249 |
section, the legislative authority authorizing the agreement shall | 250 |
forward a copy of the agreement to the director of development | 251 |
services and to the tax commissioner within fifteen days after the | 252 |
agreement is entered into. If any agreement includes terms not | 253 |
provided for in section 5709.631 of the Revised Code affecting the | 254 |
revenue of a city, local, or exempted village school district or | 255 |
causing revenue to be forgone by the district, including any | 256 |
compensation to be paid to the school district pursuant to section | 257 |
5709.82 of the Revised Code, those terms also shall be forwarded | 258 |
in writing to the director of development services along with the | 259 |
copy of the agreement forwarded under this division. | 260 |
(I) After an agreement is entered into, the enterprise shall | 261 |
file with each personal property tax return required to be filed, | 262 |
or annual report required to be filed under section 5727.08 of the | 263 |
Revised Code, while the agreement is in effect, an informational | 264 |
return, on a form prescribed by the tax commissioner for that | 265 |
purpose, setting forth separately the property, and related costs | 266 |
and values, exempted from taxation under the agreement. | 267 |
(K) An agreement entered into under this section may include | 272 |
a provision requiring the enterprise to create one or more | 273 |
temporary internship positions for students enrolled in a course | 274 |
of study at a school or other educational institution in the | 275 |
vicinity, and to create a scholarship or provide another form of | 276 |
educational financial assistance for students holding such a | 277 |
position in exchange for the student's commitment to work for the | 278 |
enterprise at the completion of the internship. | 279 |
(L) The tax commissioner's authority in determining the | 280 |
accuracy of any exemption granted by an agreement entered into | 281 |
under this section is limited to divisions (C)(1)(a) and (b), | 282 |
(C)(2)(a), (b), and (c), (C)(3), (D), and (I) of this section and | 283 |
divisions (B)(1) to (10) of section 5709.631 of the Revised Code | 284 |
and, as authorized by law, to enforcing any modification to, or | 285 |
revocation of, that agreement by the legislative authority of a | 286 |
municipal corporation or the director of development services. | 287 |
Sec. 5709.63. (A) With the consent of the legislative | 288 |
authority of each affected municipal corporation or of a board of | 289 |
township trustees, a board of county commissioners may, in the | 290 |
manner set forth in section 5709.62 of the Revised Code, designate | 291 |
one or more areas in one or more municipal corporations or in | 292 |
unincorporated areas of the county as proposed enterprise zones. A | 293 |
board of county commissioners may designate no more than one area | 294 |
within a township, or within adjacent townships, as a proposed | 295 |
enterprise zone. The board shall petition the director of | 296 |
development services for certification of the area as having the | 297 |
characteristics set forth in division (A)(1) or (2) of section | 298 |
5709.61 of the Revised Code as amended by Substitute Senate Bill | 299 |
No. 19 of the 120th general assembly. Except as otherwise provided | 300 |
in division (D) of this section, on and after July 1, 1994, boards | 301 |
of county commissioners shall not enter into agreements under this | 302 |
section unless the board has petitioned the director and the | 303 |
director has certified the zone under this section as amended by | 304 |
that act; however, all agreements entered into under this section | 305 |
as it existed prior to July 1, 1994, and the incentives granted | 306 |
under those agreements shall remain in effect for the period | 307 |
agreed to under those agreements. The director shall make the | 308 |
determination in the manner provided under section 5709.62 of the | 309 |
Revised Code. | 310 |
Any enterprise wishing to enter into an agreement with the | 311 |
board under division (B) or (D) of this section shall submit a | 312 |
proposal to the board on the form and accompanied by the | 313 |
application fee prescribed under division (B) of section 5709.62 | 314 |
of the Revised Code. The enterprise shall review and update the | 315 |
estimates and listings required by the form in the manner required | 316 |
under that division. The board may, on a separate form and at any | 317 |
time, require any additional information necessary to determine | 318 |
whether an enterprise is in compliance with an agreement and to | 319 |
collect the information required to be reported under section | 320 |
5709.68 of the Revised Code. | 321 |
(B) If the board of county commissioners finds that an | 322 |
enterprise submitting a proposal is qualified by financial | 323 |
responsibility and business experience to create and preserve | 324 |
employment opportunities in the zone and to improve the economic | 325 |
climate of the municipal corporation or municipal corporations or | 326 |
the unincorporated areas in which the zone is located and to which | 327 |
the proposal applies, the board, on or before October 15, 2013 | 328 |
2015, and with the consent of the legislative authority of each | 329 |
affected municipal corporation or of the board of township | 330 |
trustees may do either of the following: | 331 |
(i) Exemption for a specified number of years, not to exceed | 344 |
fifteen, of a specified portion, up to sixty per cent, of the | 345 |
assessed value of tangible personal property first used in | 346 |
business at a project site as a result of the agreement. If an | 347 |
exemption for inventory is specifically granted in the agreement | 348 |
pursuant to this division, the exemption applies to inventory | 349 |
required to be listed pursuant to sections 5711.15 and 5711.16 of | 350 |
the Revised Code, except, in the instance of an expansion or other | 351 |
situations in which an enterprise was in business at the facility | 352 |
prior to the establishment of the zone, the inventory that is | 353 |
exempt is that amount or value of inventory in excess of the | 354 |
amount or value of inventory required to be listed in the personal | 355 |
property tax return of the enterprise in the return for the tax | 356 |
year in which the agreement is entered into. | 357 |
(2) Enter into an agreement with an enterprise that plans to | 368 |
purchase and operate a large manufacturing facility that has | 369 |
ceased operation or has announced its intention to cease | 370 |
operation, in return for exemption for a specified number of | 371 |
years, not to exceed fifteen, of a specified portion, up to one | 372 |
hundred per cent, of tangible personal property used in business | 373 |
at the project site as a result of the agreement, or of real | 374 |
property constituting the project site, or both. | 375 |
(C)(1)(a) Notwithstanding divisions (B)(1)(b)(i) and (ii) of | 376 |
this section, the portion of the assessed value of tangible | 377 |
personal property or of the increase in the assessed valuation of | 378 |
real property exempted from taxation under those divisions may | 379 |
exceed sixty per cent in any year for which that portion is | 380 |
exempted if the average percentage exempted for all years in which | 381 |
the agreement is in effect does not exceed fifty per cent, or if | 382 |
the board of education of the city, local, or exempted village | 383 |
school district within the territory of which the property is or | 384 |
will be located approves a percentage in excess of sixty per cent. | 385 |
(b) Notwithstanding any provision of the Revised Code to the | 386 |
contrary, the exemptions described in divisions (B)(1)(b)(i), | 387 |
(ii), (iii), and (iv) and (B)(2) of this section may be for up to | 388 |
fifteen years if the board of education of the city, local, or | 389 |
exempted village school district within the territory of which the | 390 |
property is or will be located approves a number of years in | 391 |
excess of ten. | 392 |
(c) For the purpose of obtaining the approval of a city, | 393 |
local, or exempted village school district under division | 394 |
(C)(1)(a) or (b) of this section, the board of county | 395 |
commissioners shall deliver to the board of education a notice not | 396 |
later than forty-five days prior to approving the agreement, | 397 |
excluding Saturdays, Sundays, and legal holidays as defined in | 398 |
section 1.14 of the Revised Code. The notice shall state the | 399 |
percentage to be exempted, an estimate of the true value of the | 400 |
property to be exempted, and the number of years the property is | 401 |
to be exempted. The board of education, by resolution adopted by a | 402 |
majority of the board, shall approve or disapprove the agreement | 403 |
and certify a copy of the resolution to the board of county | 404 |
commissioners not later than fourteen days prior to the date | 405 |
stipulated by the board of county commissioners as the date upon | 406 |
which approval of the agreement is to be formally considered by | 407 |
the board of county commissioners. The board of education may | 408 |
include in the resolution conditions under which the board would | 409 |
approve the agreement, including the execution of an agreement to | 410 |
compensate the school district under division (B) of section | 411 |
5709.82 of the Revised Code. The board of county commissioners may | 412 |
approve the agreement at any time after the board of education | 413 |
certifies its resolution approving the agreement to the board of | 414 |
county commissioners, or, if the board of education approves the | 415 |
agreement conditionally, at any time after the conditions are | 416 |
agreed to by the board of education and the board of county | 417 |
commissioners. | 418 |
If a board of education has adopted a resolution waiving its | 419 |
right to approve agreements and the resolution remains in effect, | 420 |
approval of an agreement by the board of education is not required | 421 |
under division (C) of this section. If a board of education has | 422 |
adopted a resolution allowing a board of county commissioners to | 423 |
deliver the notice required under this division fewer than | 424 |
forty-five business days prior to approval of the agreement by the | 425 |
board of county commissioners, the board of county commissioners | 426 |
shall deliver the notice to the board of education not later than | 427 |
the number of days prior to such approval as prescribed by the | 428 |
board of education in its resolution. If a board of education | 429 |
adopts a resolution waiving its right to approve agreements or | 430 |
shortening the notification period, the board of education shall | 431 |
certify a copy of the resolution to the board of county | 432 |
commissioners. If the board of education rescinds such a | 433 |
resolution, it shall certify notice of the rescission to the board | 434 |
of county commissioners. | 435 |
On or before October 15, 20132015, and with the consent of | 442 |
the legislative authority of each affected municipal corporation | 443 |
or board of township trustees of each affected township, the board | 444 |
of county commissioners that designated a zone to which this | 445 |
division applies may enter into an agreement with an enterprise if | 446 |
the board finds that the enterprise satisfies one of the criteria | 447 |
described in divisions (D)(1) to (5) of this section: | 448 |
(E) All agreements entered into under this section shall be | 473 |
in the form prescribed under section 5709.631 of the Revised Code. | 474 |
After an agreement under this section is entered into, if the | 475 |
board of county commissioners revokes its designation of a zone, | 476 |
or if the director of development services revokes a zone's | 477 |
certification, any entitlements granted under the agreement shall | 478 |
continue for the number of years specified in the agreement. | 479 |
(F) Except as otherwise provided in this division, an | 480 |
agreement entered into under this section shall require that the | 481 |
enterprise pay an annual fee equal to the greater of one per cent | 482 |
of the dollar value of incentives offered under the agreement or | 483 |
five hundred dollars; provided, however, that if the value of the | 484 |
incentives exceeds two hundred fifty thousand dollars, the fee | 485 |
shall not exceed two thousand five hundred dollars. The fee shall | 486 |
be payable to the board of county commissioners once per year for | 487 |
each year the agreement is effective on the days and in the form | 488 |
specified in the agreement. Fees paid shall be deposited in a | 489 |
special fund created for such purpose by the board and shall be | 490 |
used by the board exclusively for the purpose of complying with | 491 |
section 5709.68 of the Revised Code and by the tax incentive | 492 |
review council created under section 5709.85 of the Revised Code | 493 |
exclusively for the purposes of performing the duties prescribed | 494 |
under that section. The board may waive or reduce the amount of | 495 |
the fee charged against an enterprise, but such waiver or | 496 |
reduction does not affect the obligations of the board or the tax | 497 |
incentive review council to comply with section 5709.68 or 5709.85 | 498 |
of the Revised Code, respectively. | 499 |
(H) When an agreement is entered into pursuant to this | 507 |
section, the board of county commissioners authorizing the | 508 |
agreement or the legislative authority or board of township | 509 |
trustees that negotiates and administers the agreement shall | 510 |
forward a copy of the agreement to the director of development | 511 |
services and to the tax commissioner within fifteen days after the | 512 |
agreement is entered into. If any agreement includes terms not | 513 |
provided for in section 5709.631 of the Revised Code affecting the | 514 |
revenue of a city, local, or exempted village school district or | 515 |
causing revenue to be foregone by the district, including any | 516 |
compensation to be paid to the school district pursuant to section | 517 |
5709.82 of the Revised Code, those terms also shall be forwarded | 518 |
in writing to the director of development services along with the | 519 |
copy of the agreement forwarded under this division. | 520 |
(I) After an agreement is entered into, the enterprise shall | 521 |
file with each personal property tax return required to be filed, | 522 |
or annual report that is required to be filed under section | 523 |
5727.08 of the Revised Code, while the agreement is in effect, an | 524 |
informational return, on a form prescribed by the tax commissioner | 525 |
for that purpose, setting forth separately the property, and | 526 |
related costs and values, exempted from taxation under the | 527 |
agreement. | 528 |
(K) An agreement entered into under this section may include | 533 |
a provision requiring the enterprise to create one or more | 534 |
temporary internship positions for students enrolled in a course | 535 |
of study at a school or other educational institution in the | 536 |
vicinity, and to create a scholarship or provide another form of | 537 |
educational financial assistance for students holding such a | 538 |
position in exchange for the student's commitment to work for the | 539 |
enterprise at the completion of the internship. | 540 |
(L) The tax commissioner's authority in determining the | 541 |
accuracy of any exemption granted by an agreement entered into | 542 |
under this section is limited to divisions (B)(1)(b)(i) and (ii), | 543 |
(B)(2), (C), and (I) of this section, division (B)(1)(b)(iv) of | 544 |
this section as it pertains to divisions (C)(2)(a), (b), and (c) | 545 |
of section 5709.62 of the Revised Code, and divisions (B)(1) to | 546 |
(10) of section 5709.631 of the Revised Code and, as authorized by | 547 |
law, to enforcing any modification to, or revocation of, that | 548 |
agreement by the board of county commissioners or the director of | 549 |
development services or, if the board's powers and duties are | 550 |
delegated under division (G) of this section, by the legislative | 551 |
authority of a municipal corporation or board of township | 552 |
trustees. | 553 |
(2) With the consent of the legislative authority of each | 560 |
affected municipal corporation or of a board of township trustees, | 561 |
a board of county commissioners may, in the manner set forth in | 562 |
section 5709.62 of the Revised Code, designate one or more areas | 563 |
in one or more municipal corporations or in unincorporated areas | 564 |
of the county as proposed urban jobs and enterprise zones, except | 565 |
that a board of county commissioners may designate no more than | 566 |
one area within a township, or within adjacent townships, as a | 567 |
proposed urban jobs and enterprise zone. | 568 |
(3) The legislative authority or board of county | 569 |
commissioners may petition the director of development services | 570 |
for certification of the area as having the characteristics set | 571 |
forth in division (A)(3) of section 5709.61 of the Revised Code. | 572 |
Within sixty days after receiving such a petition, the director | 573 |
shall determine whether the area has the characteristics set forth | 574 |
in that division and forward the findings to the legislative | 575 |
authority or board of county commissioners. If the director | 576 |
certifies the area as having those characteristics and thereby | 577 |
certifies it as a zone, the legislative authority or board may | 578 |
enter into agreements with enterprises under division (B) of this | 579 |
section. Any enterprise wishing to enter into an agreement with a | 580 |
legislative authority or board of county commissioners under this | 581 |
section and satisfying one of the criteria described in divisions | 582 |
(B)(1) to (5) of this section shall submit a proposal to the | 583 |
legislative authority or board on the form prescribed under | 584 |
division (B) of section 5709.62 of the Revised Code and shall | 585 |
review and update the estimates and listings required by the form | 586 |
in the manner required under that division. The legislative | 587 |
authority or board may, on a separate form and at any time, | 588 |
require any additional information necessary to determine whether | 589 |
an enterprise is in compliance with an agreement and to collect | 590 |
the information required to be reported under section 5709.68 of | 591 |
the Revised Code. | 592 |
(B) Prior to entering into an agreement with an enterprise, | 593 |
the legislative authority or board of county commissioners shall | 594 |
determine whether the enterprise submitting the proposal is | 595 |
qualified by financial responsibility and business experience to | 596 |
create and preserve employment opportunities in the zone and to | 597 |
improve the economic climate of the municipal corporation or | 598 |
municipal corporations or the unincorporated areas in which the | 599 |
zone is located and to which the proposal applies, and whether the | 600 |
enterprise satisfies one of the following criteria: | 601 |
(C) If the legislative authority or board determines that the | 621 |
enterprise is so qualified and satisfies one of the criteria | 622 |
described in divisions (B)(1) to (5) of this section, the | 623 |
legislative authority or board may, after complying with section | 624 |
5709.83 of the Revised Code and on or before October 15, 2013 | 625 |
2015, and, in the case of a board of commissioners, with the | 626 |
consent of the legislative authority of each affected municipal | 627 |
corporation or of the board of township trustees, enter into an | 628 |
agreement with the enterprise under which the enterprise agrees to | 629 |
establish, expand, renovate, or occupy a facility in the zone and | 630 |
hire new employees, or preserve employment opportunities for | 631 |
existing employees, in return for the following incentives: | 632 |
(D) All agreements entered into under this section shall be | 643 |
in the form prescribed under section 5709.631 of the Revised Code. | 644 |
After an agreement under this section is entered into, if the | 645 |
legislative authority or board of county commissioners revokes its | 646 |
designation of the zone, or if the director of development | 647 |
services revokes the zone's certification, any entitlements | 648 |
granted under the agreement shall continue for the number of years | 649 |
specified in the agreement. | 650 |
(E) Except as otherwise provided in this division, an | 651 |
agreement entered into under this section shall require that the | 652 |
enterprise pay an annual fee equal to the greater of one per cent | 653 |
of the dollar value of incentives offered under the agreement or | 654 |
five hundred dollars; provided, however, that if the value of the | 655 |
incentives exceeds two hundred fifty thousand dollars, the fee | 656 |
shall not exceed two thousand five hundred dollars. The fee shall | 657 |
be payable to the legislative authority or board of commissioners | 658 |
once per year for each year the agreement is effective on the days | 659 |
and in the form specified in the agreement. Fees paid shall be | 660 |
deposited in a special fund created for such purpose by the | 661 |
legislative authority or board and shall be used by the | 662 |
legislative authority or board exclusively for the purpose of | 663 |
complying with section 5709.68 of the Revised Code and by the tax | 664 |
incentive review council created under section 5709.85 of the | 665 |
Revised Code exclusively for the purposes of performing the duties | 666 |
prescribed under that section. The legislative authority or board | 667 |
may waive or reduce the amount of the fee charged against an | 668 |
enterprise, but such waiver or reduction does not affect the | 669 |
obligations of the legislative authority or board or the tax | 670 |
incentive review council to comply with section 5709.68 or 5709.85 | 671 |
of the Revised Code, respectively. | 672 |
(G) When an agreement is entered into pursuant to this | 680 |
section, the legislative authority or board of commissioners | 681 |
authorizing the agreement shall forward a copy of the agreement to | 682 |
the director of development services and to the tax commissioner | 683 |
within fifteen days after the agreement is entered into. If any | 684 |
agreement includes terms not provided for in section 5709.631 of | 685 |
the Revised Code affecting the revenue of a city, local, or | 686 |
exempted village school district or causing revenue to be forgone | 687 |
by the district, including any compensation to be paid to the | 688 |
school district pursuant to section 5709.82 of the Revised Code, | 689 |
those terms also shall be forwarded in writing to the director of | 690 |
development services along with the copy of the agreement | 691 |
forwarded under this division. | 692 |
(H) After an agreement is entered into, the enterprise shall | 693 |
file with each personal property tax return required to be filed | 694 |
while the agreement is in effect, an informational return, on a | 695 |
form prescribed by the tax commissioner for that purpose, setting | 696 |
forth separately the property, and related costs and values, | 697 |
exempted from taxation under the agreement. | 698 |
(I) An agreement entered into under this section may include | 699 |
a provision requiring the enterprise to create one or more | 700 |
temporary internship positions for students enrolled in a course | 701 |
of study at a school or other educational institution in the | 702 |
vicinity, and to create a scholarship or provide another form of | 703 |
educational financial assistance for students holding such a | 704 |
position in exchange for the student's commitment to work for the | 705 |
enterprise at the completion of the internship. | 706 |