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2022 Ohio Revised Code
Title 7 | Municipal Corporations
Chapter 718 | Municipal Income Taxes
Section 718.151 | Tax Credits to Foster Job Retention.
Universal Citation: OH Rev Code § 718.151 (2022)
Effective: September 17, 2014
Latest Legislation: House Bill 492 - 130th General Assembly
A municipal corporation, by ordinance, may grant a refundable or nonrefundable credit against its tax on income to a taxpayer for the purpose of fostering job retention in the municipal corporation. If a credit is granted under this section, it shall be measured as a percentage of the income tax revenue the municipal corporation derives from the retained employees of the taxpayer, and shall be for a term not exceeding fifteen years. Before a municipal corporation passes an ordinance allowing such a credit, the municipal corporation and the taxpayer shall enter into an agreement specifying all the conditions of the credit.
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