OH HB224

Establishes a $2,400 nonrefundable tax credit for employers who hire and retain previously unemployed individuals from July 1, 2009 through July 1, 2010.

Requires eligible employees to have been unemployed for four consecutive weeks immediately before hire, remain employed for 24 consecutive months, earn at least the average monthly unemployment compensation benefit, and be lawfully employable in the U.S. and resident in Ohio.

Applies to dealers in intangibles, domestic and foreign insurance companies, corporations, and pass-through entities subject to Ohio income and franchise taxes.

Mandates employers execute a notarized statement confirming use of the federal E-verify employment verification system to validate lawful work eligibility before claiming the credit.

Allows excess credits to carry forward to the two ensuing tax years following the 24-month employment period, with specific ordering rules for credit application against tax liability.