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(124th General Assembly)
(Amended House Bill Number 65)
To amend section 5709.17 of the Revised Code to
from taxation property
held or occupied by
veterans' organizations that qualify for income
exemption under the Internal Revenue Code, except
real property used to generate annual gross income
of more than a specified amount.
Be it enacted by the General Assembly of the State of Ohio:
SECTION 1. That section 5709.17 of the Revised Code be
amended to read as
The following property shall be exempted
(A) Real estate held or occupied by an association
organized or incorporated under the laws of this
state relative to soldiers'
memorial associations, monumental
building associations, or cemetery
associations or corporations,
which in the opinion of the trustees, directors,
thereof is necessary and proper to carry out the object intended
for such association or corporation
, shall be exempt from
(B) Real estate and tangible personal property held or
organization , which is organized
for charitable purposes
that qualifies for exemption
under section 501(c)(19) or 501(c)(23) of the
Code of 1986," 100 Stat. 2085, 26 U.S.C.A. 1,
incorporated under the laws of this state or the
estate held by such organization for
the production of
rental or other income , shall be
in excess of the designated amount, before accounting for
any cost or expense incurred in the production of such income.
the purposes of this division, the designated amount equals
thousand five hundred dollars in tax year 2002, and shall be
increased by two hundred fifty dollars each year thereafter
tax year 2012, when it shall equal ten thousand dollars.
years 2013 and thereafter, the designated amount shall
(C) Tangible personal property held by a corporation
chartered under 112 Stat. 1335, 36 U.S.C.A. 40701, described in
section 501(c)(3) of the Internal Revenue Code, and exempt from
taxation under section 501(a) of the Internal Revenue Code shall
be exempt from taxation if it is property obtained as described in
112 Stat. 1335-1341, 36 U.S.C.A. Chapter 407.
SECTION 2. That existing section 5709.17 of the Revised Code