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News

News

No on Issue 3

Posted on March 24, 2021 at 9:30 PM

The Proposed Amendment states that the $50 million may come from the other sources listed in the Proposed Amendment, including revenue generated from the lease of the Cincinnati Southern Railway, a fee assessed against developers, and a tax on stock options. (Relators’ Compl., Exhibit A, at p. 3). It is legally impermissible, however, to fund the Trust from the listed sources of funding other than the City’s general capital and operating funds: (1) pursuant to R.C. 133.01 and R.C. 5705.14(C)(1), state law prohibits revenue from the lease or sale of the Cincinnati Southern Railway to fund the Trust; (2) pursuant to R.C. 718.01(R)(1)(d), an income tax on stock options cannot be used to fund the Trust; and (3) a fee assessed upon developers would constitute an impermissible tax under Ohio law.

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