Back in December, Gov. DeWine signed Senate Bill 39 that created a new nonrefundable tax credit for certain mixed-use development projects. See our Dec. 11, 2020 blog post for more details on SB 39.
The Ohio Development Services Agency (DSA) intends to conduct a public hearing for new rules for the Transformational Mixed-Use Development Tax Credit. There are eight proposed rules. Rule one provides definitions; rule two discusses eligibility; rule three discusses applications and certification; rule four covers agreements and amendments; rule five covers the tax credit itself; rule six discusses reporting requirements; rule seven covers the recission of the tax credit certification; and rule eight lists the fees involved.
The public hearing on these proposed rules will take place on May 26, 2021 at 9:30 am via Microsoft Teams or teleconference call-in. Alternatively, a person can submit comments on a rule via a written statement sent to firstname.lastname@example.org by 5 pm on May 26, 2021. If a reader of this blog cannot find a link to the Microsoft Team or the teleconference phone number on the DSA website, feel free to reach out to Tony Long at Tlong@ohiochamber.com, and he will send you the information.