Senate Bill 225 passed the Ohio House with the Ohio Senate unanimously concurring on the House amendments. That Bill was signed by Governor DeWine and will become law on September 11, 2022. Once it becomes effective, it will temporarily double the funding for Ohio’s Historic Tax Credit Program and Ohio’s Opportunity Zone Program, and it will bring valuable enhancements to both of those economic development Programs.
Mike Sikora drafted the Opportunity Zone language in that Bill, just as he did the most recent amendment to Ohio Opportunity Zone law last year. Not only did we draft the two most recent versions of Ohio Opportunity Zone law, but we believe we also have far more experience utilizing that law for our Clients than any other firm. We drafted and submitted 42 Ohio Opportunity Zone Applications in Round 1, 51 Applications in Round 2, and 79 Applications in Round 3 (the most recent Round).
Reach out to us for any and all Opportunity Zone matters that you may need assistance with. We know how to utilize this new and improved Ohio Opportunity Zone law to ensure your compliance with it and to maximize your benefits from it.