Ohio § 5709.47
Full text of Ohio Ohio Revised Code § 5709.47, with citation guidance and answers to common questions.
§ 5709.47.
(A) A municipal corporation that grants a tax exemption or enters into a redevelopment
charge agreement under section 5709.45 of the Revised Code shall establish a municipal downtown redevelopment district fund into which shall
be deposited service payments in lieu of taxes distributed to the municipal corporation
under section 5709.46 of the Revised Code and redevelopment charges collected pursuant to division (M) of section 5709.45 of the Revised Code . If an ordinance adopted under division (B) of section 5709.45 of the Revised Code or an agreement under division (M) of that section authorizes the use of service
payments or redevelopment charges for more than one of the purposes described in division
(E) of that section, the municipal corporation shall establish separate accounts for
the service payments and redevelopment charges designated for each such purpose. Money in an account of the municipal downtown redevelopment district fund shall
be used for the purposes described in the ordinance creating the downtown redevelopment
district and the redevelopment charge agreements. The municipal corporation also may deposit into any of those accounts municipal
income tax revenue that has been designated by ordinance to finance the public infrastructure
improvements. (B)(1) A municipal corporation may distribute money in the municipal downtown redevelopment
district fund to any school district in which the exempt property is located in an
amount not to exceed the amount of real property taxes that such school district would
have received from the improvement if it were not exempt from taxation, or use money
in the fund to finance specific public improvements benefiting the school district. The resolution or ordinance establishing the fund shall set forth the percentage
of such maximum amount that will be distributed to any affected school district or
used to finance specific public improvements benefiting the school district. (2) A municipal corporation also may distribute money in the municipal downtown redevelopment
district fund to a county in accordance with section 5709.913 of the Revised Code . (C) Any incidental surplus remaining in the municipal downtown redevelopment district
fund or an account of that fund upon dissolution of the fund or account shall be transferred
to the general fund of the municipal corporation.
Frequently Asked Questions About Ohio § 5709.47
What does Ohio Revised Code § 5709.47 cover?
Section 5709.47 is part of the Ohio Revised Code, the codified statutory law of Ohio. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Ohio § 5709.47?
A common citation format is "Ohio Revised Code § 5709.47" (Ohio). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Ohio law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Ohio official source linked on this page or consult a licensed Ohio attorney.
How does Ohio § 5709.47 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Ohio can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Ohio.