To amend section 131.51 of the Revised Code to require that, for fiscal year 2014 and each fiscal year thereafter, the Local Government Fund must receive the same proportion of state tax revenue that the Fund received in fiscal year 2005.

Section 1.  That section 131.51 of the Revised Code be amended to read as follows:

Sec. 131.51.  (A) On or before July 5, 2013, the tax commissioner shall compute the following amounts and certify those amounts to the director of budget and management:

(1) A percentage calculated by multiplying one hundred by the quotient obtained by dividing the total amount credited to the local government fund in fiscal year 2013 2005 by the total amount of tax revenue credited to the general revenue fund in fiscal year 2013 2005. The percentage shall be rounded to the nearest one-hundredth of one per cent.

(2) A percentage calculated by multiplying one hundred by the quotient obtained by dividing the total amount credited to the public library fund in fiscal year 2013 by the total amount of tax revenue credited to the general revenue fund in fiscal year 2013. The percentage shall be rounded to the nearest one-hundredth of one per cent.

(B) On or before the seventh day of each month, the director of budget and management shall credit to the local government fund an amount equal to the product obtained by multiplying the percentage calculated under division (A)(1) of this section by the total tax revenue credited to the general revenue fund during the preceding month. Money shall be distributed from the local government fund as required under section 5747.50 of the Revised Code during the same month in which it is credited to the fund.

(C) On or before the seventh day of each month, the director of budget and management shall credit to the public library fund an amount equal to the product obtained by multiplying the percentage calculated under division (A)(2) of this section by the total tax revenue credited to the general revenue fund during the preceding month. Money shall be distributed from the public library fund as required under section 5747.47 of the Revised Code during the same month in which it is credited to the fund.

(D) The director of budget and management shall develop a schedule identifying the specific tax revenue sources to be used to make the monthly transfers required under divisions (B) and (C) of this section. The director may, from time to time, revise the schedule as the director considers necessary.

Section 2.  That existing section 131.51 of the Revised Code is hereby repealed.

Section 3. The amendment by this act of section 131.51 of the Revised Code takes effect on June 1, 2013. If this act does not take effect at least 90 days before July 5, 2013, the Tax Commissioner shall make the computation required by division (A)(1) of that section as soon as possible after July 5, 2013, notwithstanding that division to the contrary, and the Director of Budget and Management shall make the credit, and the Tax Commissioner shall make the distribution, required under division (B) of that section as soon as possible thereafter.