❌ SB116
Reduce tangible personal property tax for pipe-line companies
Current Status: In Senate Committee (Public Utilities)
Summary
This bill amends section 5727.111 of the Revised Code to reduce the tangible personal property tax assessment rate for pipeline companies from 88% to 25%. The amendment applies to tax year 2025 and every tax year thereafter. It affects pipeline companies by lowering their tax burden.
Rationale
The bill reduces tax burdens for pipeline companies, which may conflict with the Libertarian principles of minimal government intervention and taxation. Both the LP and LPO platforms advocate for limited government and oppose cronyism, which this bill may represent by favoring specific industries.
Risks and Concerns
- Potential for cronyism favoring pipeline companies
- Increased government intervention in tax policy
- May undermine free market principles