Ohio’s General Assembly recently voted to temporarily double its Ohio Historic Preservation Tax Credit (OHPTC) award cap and increase, then reduce Ohio’s Opportunity Zone (OZ) Tax.
The legislation, championed by Sen. Kirk Schuring, a Canton-area Republican, was being closely watched by preservationists, property owners and NAIOP, a commercial real estate trade association. The bill will become law 90 days after Gov. Mike DeWine signs it.
Ohio historic preservation and economic development projects may soon receive a large temporary boost from the Ohio General Assembly. Recently passed by the Ohio Senate and now under.