COLUMBUS, Ohio – The Ohio House voted Wednesday to create a program providing state-funded, interest-free loans and a robust tax cut to subsidize development of natural gas pipelines in areas deemed to have insufficient gas infrastructure.
The bill now goes to the Senate for consideration. Should it become law, local governments could tap into the $20 million fund for zero-interest loans to buy easements for land that will eventually host a pipeline. And that pipeline’s developer could exempt between 25% to 75% of the pipeline’s value from its property tax bill, producing savings on the scale of millions.
