Section 718.15 | Tax credit for businesses that foster new jobs in Ohio.
A municipal corporation, by ordinance, may grant a refundable or nonrefundable credit against its tax on income to a taxpayer to foster job creation in the municipal corporation. If a credit is granted under this section, it shall be measured as a percentage of the new income tax revenue the municipal corporation derives from new employees of the taxpayer and shall be for a term not exceeding fifteen years. Before the municipal corporation passes an ordinance granting a credit, the municipal corporation and the taxpayer shall enter into an agreement specifying all the conditions of the credit.
Available Versions of this Section
- September 17, 2014 – House Bill 492, 130th General Assembly [ View September 17, 2014 Version ]