HB 601 Summary

• Amends Ohio Revised Code Section 9.66 to prohibit businesses that reduce U.S. workforce while increasing workforce elsewhere from applying for or receiving economic development assistance.

• Disqualifies such businesses from claiming tax credits under sections 5725.98, 5729.98, 5733.98, 5747.98, and 5751.98 for the applicable taxable year or tax period.

• Requires applicants for economic development assistance to indicate outstanding liabilities, certify eligibility, and authorize financial record inspections, with penalties for false statements including return of received funds and permanent ineligibility.

• Mandates annual certification from recipients that they remain eligible under the new restrictions, with loss of assistance and future ineligibility for false statements or failure to submit certification.

• Applies to all applications submitted on or after the bill's effective date.