Ohio Code 5531.101 – Motor fuel excise tax revenue – state infrastructure bank loans
(A) Municipal corporations, counties, and townships may not use revenue described under division (A)(3) of section 5735.05 of the Revised Code to repay loans made by the state infrastructure bank under section 5531.09 of the Revised Code if both of the following apply:
Terms Used In Ohio Code 5531.101
- Amendment: A proposal to alter the text of a pending bill or other measure by striking out some of it, by inserting new language, or both. Before an amendment becomes part of the measure, thelegislature must agree to it.
- state: means the state of Ohio. See Ohio Code 1.59
(1) The loans were made for highway, road, or street projects begun prior to March 31, 2003.
(2) The revenue:
(a) Results from the increase in the tax imposed under former section 5735.29 of the Revised Code pursuant to the amendment of the section by Am. Sub. H.B. 87 of the 125th General Assembly; and
(b) Is distributed under section 5735.27 of the Revised Code.
(B) While the loans described in division (A)(1) of this section are outstanding, the tax commissioner shall notify municipal corporations, counties, and townships receiving the revenue described in division (A)(2) of this section of the amount that cannot be used for the loan repayments.