Ohio § 4981.20
Full text of Ohio Ohio Revised Code § 4981.20, with citation guidance and answers to common questions.
§ 4981.20.
(A) Any real or personal property, or both, of the Ohio rail development commission that
is acquired, constructed, reconstructed, enlarged, improved, furnished, or equipped,
or any combination thereof, and leased or subleased under authority of sections 4981.11 to 4981.26 of the Revised Code shall be subject to ad valorem, sales, use, and franchise taxes and to zoning, planning,
and building regulations and fees, to the same extent and in the same manner as if
the lessee-user or sublessee-user thereof, rather than the issuer, had acquired, constructed,
reconstructed, enlarged, improved, furnished, or equipped, or any combination thereof,
such real or personal property, and title thereto was in the name of such lessee-user
or sublessee-user. The transfer of tangible personal property by lease or sublease under authority of sections 4981.11 to 4981.26 of the Revised Code is not a sale as used in Chapter 5739. of the Revised Code. The exemptions provided in divisions (B)(1) and (13) of section 5739.02 of the Revised
Code shall not be applicable to purchases for a project under sections 4981.11 to 4981.26 of the Revised Code . The issuer shall be exempt from all taxes on its real or personal property, or both,
which has been acquired, constructed, reconstructed, enlarged, improved, furnished,
or equipped, or any combination thereof, under sections 4981.11 to 4981.26 of the Revised Code so long as such property is used by the issuer for purposes that would otherwise
exempt such property; has ceased to be used by a former lessee-user or sublessee-user
and is not occupied or used; or has been acquired by the issuer but development has
not yet commenced. The exemption shall be effective as of the date the exempt use begins. All taxes on the exempt real or personal property for the year should be prorated
and the taxes for the exempt portion of the year shall be remitted by the county auditor. (B) Bonds issued under sections 4981.11 to 4981.26 of the Revised Code , the transfer thereof, and the interest and other income from the bonds, including
any profit made on the sale thereof, are free from taxation within the state.
Frequently Asked Questions About Ohio § 4981.20
What does Ohio Revised Code § 4981.20 cover?
Section 4981.20 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 § 4981.20?
A common citation format is "Ohio Revised Code § 4981.20" (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 § 4981.20 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.