Bill Text: OH HB58 | 2011-2012 | 129th General Assembly | Introduced
NOTE: There are more recent revisions of this legislation. Read Latest Draft
Bill Title: To expressly incorporate changes in the Internal Revenue Code since December 15, 2010, into Ohio law, to authorize a refundable job retention tax credit, to temporarily extend the look-back period from two years to three years for determining whether a state "on" indicator exists based on the total unemployment rate for purposes of state extended unemployment benefits, and to declare an emergency.
Spectrum: Moderate Partisan Bill (Republican 65-13)
Status: (Passed) 2011-03-07 - Effective Date [HB58 Detail]
Download: Ohio-2011-HB58-Introduced.html
As Introduced
A BILL
BE IT ENACTED BY THE GENERAL ASSEMBLY OF THE STATE OF OHIO:
Bill Title: To expressly incorporate changes in the Internal Revenue Code since December 15, 2010, into Ohio law, to authorize a refundable job retention tax credit, to temporarily extend the look-back period from two years to three years for determining whether a state "on" indicator exists based on the total unemployment rate for purposes of state extended unemployment benefits, and to declare an emergency.
Spectrum: Moderate Partisan Bill (Republican 65-13)
Status: (Passed) 2011-03-07 - Effective Date [HB58 Detail]
Download: Ohio-2011-HB58-Introduced.html
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Representative Beck
Cosponsors:
Representatives Adams, J., Boose, Blair, Derickson, Hackett, Hollington, Martin, Uecker
To amend section 5701.11 of the Revised Code to | 1 |
expressly incorporate changes in the Internal | 2 |
Revenue Code since December 15, 2010, into Ohio | 3 |
law. | 4 |
BE IT ENACTED BY THE GENERAL ASSEMBLY OF THE STATE OF OHIO:
Section 1. That section 5701.11 of the Revised Code be | 5 |
amended to read as follows: | 6 |
Sec. 5701.11. The effective date to which this section | 7 |
refers is the effective date of this section as amended by | 8 |
9 |
(A)(1) Except as provided under division (A)(2) or (B) of | 10 |
this section, any reference in Title LVII of the Revised Code to | 11 |
the Internal Revenue Code, to the Internal Revenue Code "as | 12 |
amended," to other laws of the United States, or to other laws of | 13 |
the United States, "as amended," means the Internal Revenue Code | 14 |
or other laws of the United States as they exist on the effective | 15 |
date. | 16 |
(2) This section does not apply to any reference in Title | 17 |
LVII of the Revised Code to the Internal Revenue Code as of a date | 18 |
certain specifying the day, month, and year, or to other laws of | 19 |
the United States as of a date certain specifying the day, month, | 20 |
and year. | 21 |
(B)(1) For purposes of applying section 5733.04, 5745.01, or | 22 |
5747.01 of the Revised Code to a taxpayer's taxable year ending | 23 |
after | 24 |
date, a taxpayer may irrevocably elect to incorporate the | 25 |
provisions of the Internal Revenue Code or other laws of the | 26 |
United States that are in effect for federal income tax purposes | 27 |
for that taxable year if those provisions differ from the | 28 |
provisions that, under division (A) of this section, would | 29 |
otherwise apply. The filing by the taxpayer for that taxable year | 30 |
of a report or return that incorporates the provisions of the | 31 |
Internal Revenue Code or other laws of the United States | 32 |
applicable for federal income tax purposes for that taxable year, | 33 |
and that does not include any adjustments to reverse the effects | 34 |
of any differences between those provisions and the provisions | 35 |
that would otherwise apply, constitutes the making of an | 36 |
irrevocable election under this division for that taxable year. | 37 |
(2) Elections under prior versions of division (B)(1) of this | 38 |
section remain in effect for the taxable years to which they | 39 |
apply. | 40 |
Section 2. That existing section 5701.11 of the Revised Code | 41 |
is hereby repealed. | 42 |