Ohio § 5709.511
Full text of Ohio Ohio Revised Code § 5709.511, with citation guidance and answers to common questions.
§ 5709.511.
(A) As used in this section, “ multinational for-profit entity ” means an entity that is organized for profit, headquartered in Ohio, and has business
operations in both the United States and other countries. (B) The legislative authority of a municipal corporation, a board of township trustees,
or a board of county commissioners may amend, or provide in, an ordinance or resolution
adopted in accordance with division (B) of section 5709.40 , section 5709.41 , division (B) of section 5709.73 , or division (A) of section 5709.78 of the Revised Code , as applicable, to extend the exemption from taxation of improvements to the parcel
or parcels designated in the ordinance or resolution for an additional period of not
more than thirty years if all of the following conditions are met: (1) The buildings and structures on the parcels are owned by a multinational for-profit
entity. (2) The multinational for-profit entity has maintained a presence on the site for more
than twenty-five years. (3) The multinational for-profit entity will commit to investing at least one hundred
million dollars at the location over the period of the extended exemption authorized
by this section. (4) The multinational for-profit entity will commit to retaining at least one thousand
jobs related to the parcels over the period of the extended exemption authorized by
this section. (5) The improvements were previously subject to an exemption from taxation pursuant to
an ordinance or resolution adopted in accordance with division (B) of section 5709.40 , section 5709.41 , division (B) of section 5709.73 , or division (A) of section 5709.78 of the Revised Code and that exemption expired after tax year 2024. (C) Not later than fifteen days after adopting or amending an ordinance or resolution
under this section, the legislative authority of the municipal corporation, board
of township trustees, or board of county commissioners shall send a copy of the amendment
to the director of development. (D) The extension of a tax exemption under division (B) of this section may, as provided
in the ordinance or resolution authorizing the extension, commence in tax year 2025
or any succeeding tax year and apply as applicable to succeeding tax years regardless
of the effective date of this section.
Frequently Asked Questions About Ohio § 5709.511
What does Ohio Revised Code § 5709.511 cover?
Section 5709.511 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 § 5709.511?
A common citation format is "Ohio Revised Code § 5709.511" (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 § 5709.511 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.