The Columbus City Council approved an ordinance authorizing the appropriation and transfer of funds totaling $5,774,772.91 for the Public School Revenue Sharing Program for tax year 2024. This payment compensates seven school districts for municipal income tax revenue forgone due to fifty-five tax-abated projects, as required by Ohio Revised Code Section 5709.82. The legislation mandates that 50% of municipal income tax revenue from tax-abated projects with an annual 'new employee' payroll of $1 million or more (or $2 million for CRA projects) be shared with affected school districts. The total amount is distributed among Columbus City School District ($3,808,689.97), Gahanna Jefferson City School District ($128,125.01), Hilliard City School District ($1,084,465.39), Hamilton Local School District ($273,435.51), Olentangy Local School District ($281,338.85), South-Western City School District ($96,743.89), and Worthington City School District ($101,974.29). Emergency action was requested to expedite payments to the school districts.