Bill Title: To grant an income tax credit eliminating tax liability for five years for individuals who obtain a baccalaureate degree and who reside in Ohio.
Spectrum: Partisan Bill (Republican 25-0)
Status: (Introduced - Dead) 2009-04-22 - To Ways & Means
[HB144 Detail]Download: Ohio-2009-HB144-Introduced.html
As Introduced
| 128th General Assembly | | Regular Session | | 2009-2010 |
| |
Cosponsors:
Representatives Bacon, Baker, Balderson, Batchelder, Blessing, Boose, Burke, Combs, Derickson, Evans, Goodwin, Hackett, Hall, Jordan, Maag, Martin, McClain, Morgan, Ruhl, Sears, Snitchler, Stebelton, Wachtmann, McGregor
A BILL
| To amend sections 5747.08 and 5747.98 and to enact
| 1 |
|
sections 3333.51 and 5747.81 of the
Revised Code
| 2 |
|
to grant an income tax credit eliminating tax | 3 |
|
liability for five years for individuals who | 4 |
|
obtain a baccalaureate degree and who reside in | 5 |
BE IT ENACTED BY THE GENERAL ASSEMBLY OF THE STATE OF OHIO:
| Section 1. That sections 5747.08 and 5747.98 be amended and
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|
sections 3333.51 and 5747.81 of the Revised Code be
enacted to
| 8 |
|
read as follows:
| 9 |
| Sec. 3333.51. (A) As used in this section, "institution of | 10 |
|
higher education" means all of the
following: | 11 |
| (1) An institution of higher education, as defined in section
| 12 |
|
3345.12 of the Revised Code; | 13 |
| (2) An institution authorized by the Ohio board of regents
| 14 |
|
under Chapter 1713. of the Revised Code to grant degrees and that
| 15 |
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is accredited by the appropriate regional and
professional
| 16 |
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accrediting associations within whose jurisdiction it
falls; | 17 |
| (3) Private career schools holding program authorizations
| 18 |
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issued by the state board of career colleges and schools under
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division (C) of section 3332.05 of the Revised Code; | 20 |
| (4) Private institutions exempt from regulation under Chapter
| 21 |
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3332. of the Revised Code as prescribed in section 3333.046 of the
| 22 |
|
Revised Code; | 23 |
| (5) Any institution located outside Ohio designated as an
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"institution of higher education" by the Ohio board of regents for
| 25 |
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purposes of this section. | 26 |
| (B)(1) For the purpose of developing and maintaining a highly
| 27 |
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qualified workforce and thereby to improve the economic welfare of
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all Ohioans, an individual who graduates on or after the effective
| 29 |
|
date of the enactment of this section from an institution of | 30 |
|
higher education with
a baccalaureate degree is
allowed a credit | 31 |
|
against
the tax imposed by section 5747.02 of
the Revised Code. | 32 |
|
Except as
provided in division (D) of this
section, the credit | 33 |
|
shall equal the individual's net tax liability after application | 34 |
|
of all credits identified in section 5747.98 of the Revised Code | 35 |
|
preceding the credit authorized by this section.
Except as | 36 |
|
otherwise provided in
this section, the individual shall
claim | 37 |
|
the credit for the individual's taxable
year in which the | 38 |
|
individual's credit application was approved and in each of the | 39 |
|
succeeding five
taxable years. | 40 |
| (2) An individual is liable to the state for credit taken
| 41 |
|
with respect to a degree, and forfeits unused credit, if the | 42 |
|
individual has been allowed the
credit for
five or fewer of the | 43 |
|
individual's taxable years, the
individual is
a nonresident of | 44 |
|
Ohio, and the individual is not a
full-time
student at an | 45 |
|
institution of higher education. A credit shall not be considered | 46 |
|
to have
been allowed
for taxable years for which a deferral | 47 |
|
under
division (D) of this
section has been authorized and used. | 48 |
|
Any
amount for which an
individual is liable under this division | 49 |
|
may
be collected by
assessment under section 5747.13 of the | 50 |
|
Revised
Code, and shall be
considered as taxes imposed under | 51 |
|
section
5747.02 of the Revised
Code. | 52 |
| (C) Within one year after obtaining the baccalaureate degree, | 53 |
|
an individual shall apply for a credit to the Ohio board
of | 54 |
|
regents or to the board's designee on a form approved by the
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board or designee and shall submit any documents required by the
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board or designee. If the individual qualifies for a credit, the
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board or designee shall issue a tax credit certificate to the
| 58 |
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individual. The certificate shall state the individual's name and
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social security number, the date the credit application was
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approved, and the taxable years for which the
credit shall be | 61 |
|
claimed. | 62 |
| (D) An individual who has received a credit certificate
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|
pursuant to this section may apply to the Ohio board of regents or
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the board's designee to defer claiming the credit. The deferral | 65 |
|
application shall be submitted
on a form approved by the board | 66 |
|
or designee and shall be
accompanied by such documents as the | 67 |
|
board or designee requires.
The board or designee shall approve | 68 |
|
the deferral if the individual
is enrolled full time in an | 69 |
|
institution of higher education to
pursue a more advanced | 70 |
|
degree. The
individual may defer claiming the credit until the | 71 |
|
individual's
taxable year in which the individual is no longer a | 72 |
|
full-time
student in an institution of higher education. | 73 |
| (E) The Ohio board of regents may designate an entity,
| 74 |
|
including a nonprofit private organization, to perform the
| 75 |
|
administrative duties conferred upon the board by this section. | 76 |
| (F) The Ohio board of regents shall identify institutions of
| 77 |
|
higher education and shall specify
the information required to | 78 |
|
be disclosed in credit certificate and
deferral applications and | 79 |
|
the documents required to be submitted. | 80 |
| Sec. 5747.08. An annual return with respect to the tax
| 81 |
|
imposed by section 5747.02 of the Revised Code and each tax
| 82 |
|
imposed under Chapter 5748. of the Revised Code shall be made by
| 83 |
|
every taxpayer for any taxable year for which the taxpayer is
| 84 |
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liable for the tax imposed by that section or under that chapter,
| 85 |
|
unless the total credits allowed under divisions (E), (F), and
(G)
| 86 |
|
of section 5747.05 of the Revised Code for the year are equal
to
| 87 |
|
or exceed the tax imposed by section 5747.02 of the Revised
Code,
| 88 |
|
in which case no return shall be required unless the
taxpayer is
| 89 |
|
liable for a tax imposed pursuant to Chapter 5748. of
the Revised
| 90 |
|
Code.
| 91 |
| (A) If an individual is deceased, any return or notice
| 92 |
|
required of that individual under this chapter shall be made and
| 93 |
|
filed by that decedent's executor, administrator, or other
person
| 94 |
|
charged with the property of that decedent.
| 95 |
| (B) If an individual is unable to make a return or notice
| 96 |
|
required by this chapter, the return or notice required of that
| 97 |
|
individual
shall be made and filed by the individual's duly
| 98 |
|
authorized agent,
guardian, conservator, fiduciary, or other
| 99 |
|
person charged with
the care of the person or property of that
| 100 |
|
individual.
| 101 |
| (C) Returns or notices required of an estate or a trust
shall
| 102 |
|
be made and filed by the fiduciary of the estate or trust.
| 103 |
| (D)(1)(a) Except as otherwise provided in
division (D)(1)(b)
| 104 |
|
of this section, any
pass-through entity
may file a single return
| 105 |
|
on behalf of
one or more of the entity's investors other than an
| 106 |
|
investor that is a
person subject
to the tax imposed under section
| 107 |
|
5733.06 of the Revised Code. The single
return shall set forth
the
| 108 |
|
name, address, and social security number
or other identifying
| 109 |
|
number of each
of those
pass-through entity investors
and shall
| 110 |
|
indicate the distributive
share of each of those
pass-through
| 111 |
|
entity investor's income
taxable in this state
in accordance with
| 112 |
|
sections 5747.20 to
5747.231 of the
Revised
Code. Such
| 113 |
|
pass-through entity investors
for whom the pass-through entity
| 114 |
|
elects to file a single return
are not entitled to the exemption
| 115 |
|
or credit provided for by
sections 5747.02 and 5747.022 of the
| 116 |
|
Revised
Code; shall calculate
the tax
before business credits at
| 117 |
|
the highest rate of tax set
forth in
section 5747.02 of the
| 118 |
|
Revised
Code for the taxable year
for
which the return is filed;
| 119 |
|
and are entitled to only their
distributive share of the business
| 120 |
|
credits as defined in
division
(D)(2) of this
section. A single
| 121 |
|
check drawn by the pass-through
entity shall
accompany
the return
| 122 |
|
in full payment of the tax due, as shown on the single return,
for
| 123 |
|
such investors, other than investors who are persons
subject to
| 124 |
|
the tax imposed under section 5733.06 of the
Revised Code.
| 125 |
| (b)(i) A pass-through entity shall not
include in such a
| 126 |
|
single return any investor that is a trust to
the extent that any
| 127 |
|
direct or indirect current, future, or
contingent beneficiary of
| 128 |
|
the trust is a person subject to the
tax imposed under section
| 129 |
|
5733.06 of the
Revised Code.
| 130 |
| (ii) A pass-through entity shall
not include in such a
single
| 131 |
|
return any investor that is itself
a pass-through entity to
the
| 132 |
|
extent that any direct or indirect
investor in the second
| 133 |
|
pass-through entity is a person subject
to the tax imposed under
| 134 |
|
section 5733.06 of the
Revised Code.
| 135 |
| (c) Nothing in division
(D) of this section precludes
the
tax
| 136 |
|
commissioner from requiring such investors to file the
return
and
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|
make the payment of taxes and related interest,
penalty, and
| 138 |
|
interest penalty required by this section or
section 5747.02,
| 139 |
|
5747.09, or 5747.15 of the
Revised Code. Nothing in division
(D)
| 140 |
|
of this section shall be
construed to provide to such an investor
| 141 |
|
or pass-through entity
any additional deduction or credit, other
| 142 |
|
than the credit
provided by division (J) of
this section, solely
| 143 |
|
on account of the entity's filing a return
in accordance with this
| 144 |
|
section. Such a pass-through entity also
shall make the filing
and
| 145 |
|
payment of estimated taxes on behalf of the pass-through
entity
| 146 |
|
investors other than an
investor that is a person subject
to the
| 147 |
|
tax imposed under section 5733.06
of the Revised Code.
| 148 |
| (2) For the purposes of
this section,
"business credits"
| 149 |
|
means the credits
listed in section 5747.98 of the
Revised
Code
| 150 |
|
excluding the following
credits:
| 151 |
| (a) The retirement credit under division (B) of section
| 152 |
|
5747.055 of
the Revised Code;
| 153 |
| (b) The senior citizen credit under
division (C) of section
| 154 |
|
5747.05 of the Revised Code;
| 155 |
| (c) The lump sum distribution credit
under division (D) of
| 156 |
|
section
5747.05 of the Revised
Code;
| 157 |
| (d) The dependent care credit under
section 5747.054 of the
| 158 |
|
Revised
Code;
| 159 |
| (e) The lump sum retirement income
credit under division (C)
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|
of
section 5747.055 of the Revised
Code;
| 161 |
| (f) The lump sum retirement income
credit under division (D)
| 162 |
|
of
section 5747.055 of the Revised
Code;
| 163 |
| (g) The lump sum retirement income
credit under division (E)
| 164 |
|
of
section 5747.055 of the Revised
Code;
| 165 |
| (h) The credit for displaced workers
who pay for job
training
| 166 |
|
under section 5747.27 of the
Revised
Code;
| 167 |
| (i) The twenty-dollar personal
exemption credit under
section
| 168 |
|
5747.022 of the
Revised
Code;
| 169 |
| (j) The joint filing credit under
division (G) of section
| 170 |
|
5747.05
of the Revised
Code;
| 171 |
| (k) The nonresident credit under
division (A) of section
| 172 |
|
5747.05
of the Revised
Code;
| 173 |
| (l) The credit for a resident's
out-of-state income under
| 174 |
|
division
(B) of section 5747.05 of the
Revised
Code;
| 175 |
| (m) The low-income credit under section 5747.056 of the
| 176 |
|
Revised Code; | 177 |
| (n) The credit for graduates from institutions of higher
| 178 |
|
education under section 5747.81 of the
Revised Code.
| 179 |
| (3) The election provided for under division
(D) of this
| 180 |
|
section applies
only to the taxable year for which the election is
| 181 |
|
made by the
pass-through entity. Unless the tax commissioner
| 182 |
|
provides
otherwise, this election, once made, is binding and
| 183 |
|
irrevocable
for the taxable year for which the election is made.
| 184 |
|
Nothing in
this division shall be construed to provide for any
| 185 |
|
deduction or
credit that would not be allowable if a nonresident
| 186 |
|
pass-through
entity investor were to file an annual return.
| 187 |
| (4) If a pass-through entity makes the election provided
for
| 188 |
|
under division (D) of this
section, the pass-through entity shall
| 189 |
|
be liable for any
additional taxes, interest, interest penalty, or
| 190 |
|
penalties imposed by this
chapter
if the tax
commissioner
finds
| 191 |
|
that
the single return does
not reflect the
correct tax
due by
the
| 192 |
|
pass-through
entity investors
covered by that
return. Nothing in
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|
this
division shall be
construed to limit or
alter the liability,
| 194 |
|
if
any, imposed on
pass-through entity
investors for unpaid or
| 195 |
|
underpaid taxes,
interest, interest
penalty, or penalties as a
| 196 |
|
result of the
pass-through entity's
making the election provided
| 197 |
|
for under
division (D) of this
section.
For the purposes of
| 198 |
|
division
(D) of
this section,
"correct tax due" means the tax that
| 199 |
|
would have been
paid by the
pass-through entity had the single
| 200 |
|
return been filed
in a manner
reflecting
the tax
commissioner's
| 201 |
|
findings. Nothing
in
division (D) of this section
shall be
| 202 |
|
construed to make or hold
a
pass-through entity liable
for tax
| 203 |
|
attributable to a
pass-through
entity investor's
income
from a
| 204 |
|
source other than the
pass-through
entity electing
to file
the
| 205 |
|
single return.
| 206 |
| (E) If a husband and wife file a joint federal income tax
| 207 |
|
return for a taxable year, they shall file a joint return under
| 208 |
|
this section for that taxable year, and their liabilities are
| 209 |
|
joint and several, but, if the federal income tax liability of
| 210 |
|
either spouse is determined on a separate federal income tax
| 211 |
|
return, they shall file separate returns under this section.
| 212 |
| If either spouse is not required to file a federal income
tax
| 213 |
|
return and either or both are required to file a return
pursuant
| 214 |
|
to this chapter, they may elect to file separate or
joint returns,
| 215 |
|
and, pursuant to that election, their liabilities are
separate or
| 216 |
|
joint and several. If a husband and wife file
separate returns
| 217 |
|
pursuant to this chapter, each must claim the taxpayer's
own
| 218 |
|
exemption, but not both, as authorized under
section
5747.02 of
| 219 |
|
the Revised Code on the taxpayer's own
return.
| 220 |
| (F) Each return or notice required to be filed under this
| 221 |
|
section shall contain the signature of the taxpayer
or the
| 222 |
|
taxpayer's duly authorized
agent and of the person who prepared
| 223 |
|
the return for the
taxpayer, and shall include the taxpayer's
| 224 |
|
social security
number. Each return shall be verified by a
| 225 |
|
declaration
under the penalties of perjury. The tax commissioner
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|
shall prescribe the
form that the signature and declaration shall
| 227 |
|
take.
| 228 |
| (G) Each return or notice required to be filed under this
| 229 |
|
section shall be made and filed as required by section 5747.04 of
| 230 |
|
the Revised Code, on or before the fifteenth day of April of each
| 231 |
|
year, on forms that the tax commissioner shall prescribe,
together
| 232 |
|
with remittance made payable to the treasurer of state
in the
| 233 |
|
combined amount of the state and all school district
income taxes
| 234 |
|
shown to be due on the form, unless the combined amount
shown to
| 235 |
|
be due is one dollar or less, in which case that amount
need not
| 236 |
|
be remitted.
| 237 |
| Upon good cause shown, the tax commissioner may extend the
| 238 |
|
period
for filing any notice or return required to be filed under
| 239 |
|
this
section and may adopt rules relating to extensions. If the
| 240 |
|
extension results in an extension of time for the payment of any
| 241 |
|
state or school district income tax liability with respect to
| 242 |
|
which the return is filed, the taxpayer shall pay at the time the
| 243 |
|
tax liability is paid an amount of interest computed at the rate
| 244 |
|
per annum prescribed by section 5703.47 of the Revised Code on
| 245 |
|
that liability from the time that payment is due without
extension
| 246 |
|
to the time of actual payment. Except as
provided in section
| 247 |
|
5747.132 of the Revised Code, in
addition to all
other interest
| 248 |
|
charges and penalties, all taxes imposed under this chapter
or
| 249 |
|
Chapter 5748. of the
Revised
Code and remaining
unpaid after they
| 250 |
|
become due, except combined amounts due of one
dollar or less,
| 251 |
|
bear interest at the rate per annum prescribed by
section 5703.47
| 252 |
|
of the Revised Code until paid or until the day an
assessment is
| 253 |
|
issued under section 5747.13 of the Revised Code, whichever
| 254 |
|
occurs
first.
| 255 |
| If the tax commissioner
considers it necessary in order to
| 256 |
|
ensure
the payment of the tax imposed by
section 5747.02 of the
| 257 |
|
Revised
Code or any tax imposed under
Chapter 5748. of the Revised
| 258 |
|
Code,
the tax commissioner may require
returns and payments to be
| 259 |
|
made
otherwise than as provided in
this section.
| 260 |
| To the extent that any provision in this division conflicts
| 261 |
|
with any provision in section 5747.026 of the Revised Code, the
| 262 |
|
provision in that section prevails.
| 263 |
| (H) If any report, claim, statement, or other document
| 264 |
|
required to be filed, or any payment required to be made, within
a
| 265 |
|
prescribed period or on or before a prescribed date under this
| 266 |
|
chapter is delivered after that period or that date by United
| 267 |
|
States mail to the agency, officer, or office with which the
| 268 |
|
report, claim,
statement, or other document is required to be
| 269 |
|
filed, or to which the payment is required to be made, the date
of
| 270 |
|
the postmark stamped on the cover in which the report, claim,
| 271 |
|
statement, or other document, or payment is mailed shall be
deemed
| 272 |
|
to be the date of delivery or the date of payment.
| 273 |
| If a payment is required to be made by electronic funds
| 274 |
|
transfer pursuant to section 5747.072 of the Revised Code, the
| 275 |
|
payment is considered to be made when the payment is received by
| 276 |
|
the treasurer of state or credited to an account designated by
the
| 277 |
|
treasurer of state for the receipt of tax payments.
| 278 |
| "The date of the postmark" means, in the event there
is more
| 279 |
|
than one date on the cover, the earliest date imprinted
on the
| 280 |
|
cover by the United States postal service.
| 281 |
| (I) The amounts withheld by the employer pursuant to
section
| 282 |
|
5747.06 of the Revised Code shall be allowed to the
recipient of
| 283 |
|
the compensation as credits against payment of the
appropriate
| 284 |
|
taxes imposed on the recipient by section
5747.02 and under
| 285 |
|
Chapter 5748. of the Revised Code.
| 286 |
| (J) If, in accordance
with division (D) of this
section, a
| 287 |
|
pass-through entity elects to file a single return
and if any
| 288 |
|
investor is required to file the return and make the
payment of
| 289 |
|
taxes required by this chapter on account of the
investor's other
| 290 |
|
income that is not included in a single return
filed by a
| 291 |
|
pass-through entity, the investor is entitled to a
refundable
| 292 |
|
credit equal to the investor's proportionate share of
the tax paid
| 293 |
|
by the pass-through entity on behalf of the
investor. The
investor
| 294 |
|
shall claim the credit for the
investor's taxable year in
which or
| 295 |
|
with which ends the taxable
year of the pass-through
entity.
| 296 |
|
Nothing in this chapter shall
be construed to allow any
credit
| 297 |
|
provided in this chapter to be
claimed more than once. For
the
| 298 |
|
purposes of computing any
interest, penalty, or interest
penalty,
| 299 |
|
the investor shall be
deemed to have paid the refundable
credit
| 300 |
|
provided by this
division on the day that the pass-through
entity
| 301 |
|
paid the
estimated tax or the tax giving rise to the
credit.
| 302 |
| (K) The tax commissioner shall ensure that each return
| 303 |
|
required to be filed under this section includes a box that the
| 304 |
|
taxpayer may check to authorize a paid tax preparer who prepared
| 305 |
|
the return to communicate with the department of taxation about
| 306 |
|
matters pertaining to the return. The return or instructions
| 307 |
|
accompanying the return shall indicate that by checking the box
| 308 |
|
the taxpayer authorizes the department of taxation to contact the
| 309 |
|
preparer concerning questions that arise during the processing of
| 310 |
|
the return and authorizes the preparer only to provide the
| 311 |
|
department with information that is missing from the return, to
| 312 |
|
contact the department for information about the processing of the
| 313 |
|
return or the status of the taxpayer's refund or payments, and to
| 314 |
|
respond to notices about mathematical errors, offsets, or return
| 315 |
|
preparation that the taxpayer has received from the department and
| 316 |
|
has shown to the preparer.
| 317 |
| Sec. 5747.81. A taxpayer to whom a tax credit certificate
| 318 |
|
has been issued under section 3333.51 of the Revised Code is
| 319 |
|
allowed a nonrefundable credit against the tax imposed by section
| 320 |
|
5747.02 of the Revised Code. The credit shall be claimed as
| 321 |
|
provided in section 3333.51 of the Revised Code and in the order
| 322 |
|
required under section 5747.98 of the Revised Code. The amount of
| 323 |
|
credit claimed for a taxable year equals, but shall not exceed, | 324 |
|
the tax
otherwise due after allowing for all preceding credits | 325 |
|
in that
order. | 326 |
| Sec. 5747.98. (A) To provide a uniform procedure for
| 327 |
|
calculating the amount of tax due under section 5747.02 of the
| 328 |
|
Revised Code, a taxpayer shall claim any credits to which the
| 329 |
|
taxpayer is
entitled in the following order:
| 330 |
| (1) The retirement income credit under division (B) of
| 331 |
|
section 5747.055 of the Revised Code;
| 332 |
| (2) The senior citizen credit under division (C) of
section
| 333 |
|
5747.05 of the Revised Code;
| 334 |
| (3) The lump sum distribution credit under division (D) of
| 335 |
|
section 5747.05 of the Revised Code;
| 336 |
| (4) The dependent care credit under section 5747.054 of
the
| 337 |
|
Revised Code;
| 338 |
| (5) The lump sum retirement income credit under division
(C)
| 339 |
|
of section 5747.055 of the Revised Code;
| 340 |
| (6) The lump sum retirement income credit under division
(D)
| 341 |
|
of section 5747.055 of the Revised Code;
| 342 |
| (7) The lump sum retirement income credit under division
(E)
| 343 |
|
of section 5747.055 of the Revised Code;
| 344 |
| (8) The low-income credit under section 5747.056 of the
| 345 |
|
Revised Code;
| 346 |
| (9) The credit for displaced workers who pay for job
training
| 347 |
|
under section 5747.27 of the Revised Code;
| 348 |
| (10) The campaign contribution credit under section
5747.29
| 349 |
|
of
the Revised Code;
| 350 |
| (11) The twenty-dollar personal exemption credit under
| 351 |
|
section 5747.022 of the Revised Code;
| 352 |
| (12) The joint filing credit under division (G) of
section
| 353 |
|
5747.05 of the Revised Code;
| 354 |
| (13) The nonresident credit under division (A) of
section
| 355 |
|
5747.05 of the Revised Code;
| 356 |
| (14) The credit for a resident's out-of-state income
under
| 357 |
|
division (B) of section 5747.05 of the Revised Code;
| 358 |
| (15) The credit for employers that enter
into agreements
with
| 359 |
|
child day-care centers under section 5747.34 of the
Revised
Code;
| 360 |
| (16) The credit for employers that reimburse employee
child
| 361 |
|
care expenses under section 5747.36 of the Revised Code;
| 362 |
| (17) The credit for adoption of a minor child under section
| 363 |
|
5747.37 of the Revised Code;
| 364 |
| (18) The credit for purchases of lights and reflectors under
| 365 |
|
section
5747.38 of the Revised Code;
| 366 |
| (19)
The job retention credit under division (B) of section
| 367 |
|
5747.058 of the Revised Code;
| 368 |
| (20) The credit for
selling alternative fuel under section
| 369 |
|
5747.77 of the
Revised
Code;
| 370 |
| (21) The second credit for purchases of new
manufacturing
| 371 |
|
machinery and
equipment and the credit for using
Ohio coal under
| 372 |
|
section 5747.31 of the
Revised Code;
| 373 |
| (22) The job training credit under section 5747.39 of
the
| 374 |
|
Revised Code;
| 375 |
| (23) The enterprise zone credit under section 5709.66 of
the
| 376 |
|
Revised Code;
| 377 |
| (24) The credit for the eligible costs associated with a
| 378 |
|
voluntary action
under section 5747.32 of the Revised Code;
| 379 |
| (25) The credit
for employers that establish on-site
child
| 380 |
|
day-care centers under section
5747.35 of the Revised Code;
| 381 |
| (26)
The ethanol plant investment credit under section
| 382 |
|
5747.75 of the Revised Code;
| 383 |
| (27) The credit for purchases of qualifying grape
production
| 384 |
|
property under section 5747.28 of the Revised Code;
| 385 |
| (28) The credit for graduates from institutions of higher
| 386 |
|
education under section 5747.81 of the
Revised Code; | 387 |
| (29) The export sales credit under section 5747.057 of
the
| 388 |
|
Revised Code;
| 389 |
(29)(30) The credit for research and development and
| 390 |
|
technology
transfer investors under section 5747.33 of the Revised
| 391 |
|
Code;
| 392 |
(30)(31)
The enterprise zone credits under
section 5709.65
of
| 393 |
|
the
Revised Code;
| 394 |
(31)(32) The research and development credit under section
| 395 |
|
5747.331 of the Revised Code;
| 396 |
(32)(33) The credit for rehabilitating a historic building
| 397 |
|
under
section 5747.76 of the Revised Code;
| 398 |
(33)(34) The refundable credit for rehabilitating a historic
| 399 |
|
building under section 5747.76 of the Revised Code;
| 400 |
(34)(35) The refundable jobs creation credit
under
division
| 401 |
|
(A)
of section
5747.058 of the Revised Code;
| 402 |
(35)(36) The refundable credit for taxes paid by a
qualifying
| 403 |
|
entity granted under section 5747.059 of the Revised
Code;
| 404 |
(36)(37) The refundable credits for taxes paid by a
| 405 |
|
qualifying
pass-through
entity granted under division (J) of
| 406 |
|
section 5747.08
of the Revised Code;
| 407 |
(37)(38) The refundable credit for tax withheld under
| 408 |
|
division
(B)(1) of section 5747.062 of the Revised Code;
| 409 |
(38)(39) The refundable credit under section 5747.80 of the
| 410 |
|
Revised Code for losses on loans made to the Ohio venture
capital
| 411 |
|
program under sections 150.01 to 150.10 of the Revised
Code.
| 412 |
(B) For any nonrefundable credit, except the credits
| 413 |
enumerated
in
divisions (A)(33) to (38) of
this
section
and
the
| 414 |
credit
granted
under division
(I) of
section
5747.08 of
the
| 415 |
Revised
Code, the
amount of the credit
for
a
taxable year
shall
| 416 |
|
not
exceed the tax
due after allowing for any
other credit
that
| 417 |
|
precedes it in the
order required under this
section. Any
excess
| 418 |
|
amount of a
particular credit may be carried
forward if
| 419 |
|
authorized
under the
section creating that credit.
Nothing in
| 420 |
|
this
chapter
shall be
construed to allow a taxpayer to
claim,
| 421 |
|
directly
or
indirectly, a
credit more than once for a
taxable
| 422 |
|
year.
| 423 |
| Section 2. That existing sections 5747.08 and 5747.98 of the
| 424 |
|
Revised Code are hereby repealed.
| 425 |
