As promised, we will be providing you with JEDD updates as we are informed of them.
On May 31, 2016, the Ohio Senate approved Amended Substitute House Bill 182 which makes a number of changes in state law relating to JEDDs. This bill has been forwarded to Governor John Kasich for his consideration. Some of the key changes to current law include language that allows JEDDs to:
- Use tax revenues for redevelopment purposes;
Establish “mixed use developments” such as real estate projects that include retail, office, residential, hotel, recreation and other functions to be included within the district;
Impose a JEDD income tax on the income of individuals residing within the boundaries of the JEDD whether or not they work within the boundaries of the JEDD; and
Broadens the definition of businesses operating within the JEDD area in addition to those physically located within the JEDD.
Amended Substitute House Bill 182 also includes language that requires that the economic development plan for the JEDD be incorporated into the JEDD contract; and removes from law the language that allowed counties to disapprove the JEDD.
If the Governor signs this bill into law, we will alert you.