Section 727.031 - Exemption from special assessments - nonprofit arts institutions(A) As used in this section: (1) "Nonprofit arts institution" has the same meaning as in division (G) of section 5709.121 of the Revised Code.(2) "Qualifying real property" means any real property that is located in a county having a population greater than five hundred thousand but less than five hundred forty thousand and that is either (i) owned and operated by a nonprofit arts institution or (ii) owned and operated by a limited liability company whose sole member is a nonprofit arts institution.(B) For tax years 2020 to 2024, qualifying real property is exempt from special assessments levied under Chapter 727. or 729. of the Revised Code, provided no delinquent special assessments and related interest and penalties are levied or assessed against any property owned by the owner and operator of the qualifying real property for that tax year.Added by 134th General Assembly File No. TBD, HB 110,§101.01, eff. 9/30/2021. See 134th General Assembly File No. TBD, HB 110, §803.30.