Ohio Revised Code Search

...rolled by a board of directors that is selected by the shareholders on a basis of one vote per shareholder and in which the management rights are represented by voting stock that is owned only by employees of the operation, a nonprofit community development corporation, or an employee-owned stock ownership plan any portion of which is owned by not less than twenty per cent of those employees. An "employee-owned corpo...

...o be administered by the director of development. The director may employ any professional and technical personnel and other employees that are necessary to comply with sections 122.13 to 122.136 of the Revised Code. The director shall assist an individual or group of individuals, who seek assistance in the establishment of an employee-owned corporation. The director shall inform local government, business organizat...

...The director of development shall do all of the following: (A) Develop, collect, and disseminate information useful to individuals and organizations throughout the state in undertaking or promoting the establishment and successful operation of employee-owned corporations; (B) Assist in the evaluation of the feasibility and economic vitality of employee-owned corporation proposals received in the employee ownership ...

...The director of development shall publicize the availability of the employee ownership assistance program and its services to local governments and to business and labor organizations and shall coordinate with local governments, business and labor organizations, and other state agencies in obtaining information relating to the possible relocation of operations or closing of a business establishment.

...If the director of development becomes aware that a business establishment is closing or relocating operations, the director, pursuant to a request received under section 122.135 of the Revised Code, may conduct an initial study of the feasibility of the employees of the business establishment establishing an employee-owned corporation to continue the operations of the business establishment, or to operate another bu...

... a manner prescribed by the director of development, assistance in efforts to study the feasibility of the establishment of an employee-owned corporation and any other assistance the director may provide pursuant to sections 122.13 to 122.136 of the Revised Code.

...The director of development services shall prepare and submit a report to the governor and the general assembly annually on or before the first day of August of the services and activities of the employee ownership assistance program for the preceding calendar year. The director shall include in the report information regarding the number, names, and locations of business establishments that have been or likely will ...

...d in the state treasury the roadwork development fund. The fund shall consist of the investment earnings of the security deposit fund created by section 4509.27 of the Revised Code and revenue transferred to it by the director of budget and management from the highway operating fund created in section 5735.051 of the Revised Code. The fund shall be used by the department of development in accordance with Section 5a o...

...151 of the Revised Code. (D) "Credit-eligible capital contribution" means an investment of cash by a person subject to the tax imposed by section 3901.86, 5725.18, 5729.03, or 5729.06 of the Revised Code in a rural business growth fund that equals the amount specified on a notice of tax credit allocation issued by the department of development under division (I)(1) of section 122.151 of the Revised Code. The inves...

...(A) A person that has developed a business plan to invest in rural business concerns in this state and has successfully solicited private investors to make credit-eligible capital contributions in support of the plan may apply to the department of development for certification as a rural business growth fund. The application shall include all of the following: (1) The total eligible investment authority sought by ...

...ax credit certificates issued by the development services agency under division (B) of this section. The credit may be claimed against the tax imposed by section 3901.86, 5725.18, 5729.03, or 5729.06 of the Revised Code. (B) On the closing date, a taxpayer that made a credit-eligible capital contribution to a rural business growth fund shall be eligible for a credit equal to the amount specified in the notice issu...

...(A) The department of development shall not be required to issue a tax credit certificate under section 122.152 of the Revised Code if either of the following applies: (1) The credit-eligible capital contribution was made in a program one rural business growth fund that fails to: (a) Invest fifty per cent of its eligible investment authority in growth investments within one year of the closing date; and (b) ...

...made. (3) The number of employment positions that existed at each business described in division (A)(2) of this section on the date the business received the growth investment; (4) The number of new full-time equivalent employees resulting from each of the fund's growth investments made or maintained in the preceding calendar year; (5) Any other information required by the agency. (B) Each fund shall subm...

...sulted in the retention of employment positions that would have otherwise been eliminated at rural business concerns in this state. The amount waived shall not exceed the product of thirty thousand dollars multiplied by the number of retained employment positions multiplied by the number of years in which the fund made or maintained a growth investment in the rural business concern that retained the employment positi...

...itten opinion from the department of development as to whether the business qualifies as a rural business concern based on the criteria prescribed by section 122.15 of the Revised Code. The request shall be submitted in a form prescribed by rule of the agency. The agency shall issue a written opinion to the fund within thirty business days of receiving such a request. Notwithstanding division (J) of section 122.15 of...

...to cause the relocation of employment positions to that site from elsewhere in this state, except as otherwise provided in division (D)(2) of this section. The commitment shall be binding on the taxpayer, partnership, or S corporation for the lesser of five years from the date the agreement is entered into or the number of years the taxpayer, partnership, or S corporation is entitled to claim the tax credit under the...

...as in section 122.6511 of the Revised Code. (5) "Former coal mine" means a location that was, but is no longer, used in connection with the extraction of coal from its natural deposit in the earth. (6) "Qualifying property" has the same meaning as in section 5727.76 of the Revised Code. (B) A legislative authority may adopt and certify to the director of development an ordinance or resolution requesting that th...

...te a substantial number of employment positions from elsewhere in this state to the project location unless the director of development determines that the legislative authority of the county, township, or municipal corporation from which the employment positions would be relocated has been notified by the taxpayer of the relocation. For purposes of this section, the movement of an employment position from one pol...

...ts of basic research and new product development determined in accordance with generally accepted accounting principles, but does not include any of the following: (a) Payments made for the acquisition of personal property through operating leases; (b) Project costs paid before January 1, 2002; (c) Payments made to a related member as defined in section 5733.042 of the Revised Code or to a consolidated elect...

...ble credits. (B)(1) The director of development shall administer the manufacturing equipment grant program to provide grants for new manufacturing machinery and equipment qualifying for the grant under section 122.173 of the Revised Code. Except as provided in division (C) of this section, the grants apply to the taxes imposed by sections 5733.06 and 5747.02 of the Revised Code for taxable years ending on or after J...

...e, a taxpayer's direct or indirect acquisition of new manufacturing machinery and equipment is not purchased on or after July 1, 1995, if the taxpayer, or a person whose relationship to the taxpayer is described in subparagraphs (A), (B), or (C) of section 179(d)(2) of the Internal Revenue Code, had directly or indirectly entered into a binding agreement to acquire the property at any time prior to July 1, 1995. (...

...of the Revised Code. The director of development services shall use money in the fund to pay expenses related to the administration of (A) the business services division of the development services agency and (B) the programs described in those sections.

...ent project; (b) Payments made to a related member as defined in section 5733.042 of the Revised Code or to a consolidated elected taxpayer or a combined taxpayer as defined in section 5751.01 of the Revised Code. (2) "Computer data center" means a facility used or to be used primarily to house computer data center equipment used or to be used in conducting one or more computer data center businesses, as determ...

...t fund must use the grant for the acquisition, construction, enlargement, improvement, or equipment of property, structures, equipment, and facilities used by the employer in business at the vacant commercial space occupied by the employer. (D) An employer may claim a grant under this section with respect to a building, the construction of which is not complete, only if the employer submits both of the followi...

...on internship" means a paid employment relationship between a student intern and a business in which the student intern acquires education, instruction, and experience relevant to the student intern's career aspirations. (3) "Student intern" means an individual who, at the time the business applies for a grant under division (B) of this section, meets both of the following criteria: (a) The individual is entitled...