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OH SB198
Bill
Status
10/29/2009
Primary Sponsor
William Seitz
Click for details
AI Summary
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Establishes a state income tax credit for individuals who graduate with degrees in approved science, technology, engineering, or mathematics fields from eligible institutions of higher education.
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Credit amounts are $1,000 for associate degrees, $5,000 for baccalaureate degrees, and $10,000 for master's or doctoral degrees, claimed as one-tenth per year over 10 taxable years.
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Individuals who become nonresidents of Ohio within 5 years of earning the credit must repay it, except if they remain full-time students in approved fields at higher education institutions.
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Allows individuals to defer claiming credits while pursuing more advanced degrees in approved fields of study.
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Authorizes municipal corporations to grant local income tax credits to individuals who qualify for the state credit, with locally-determined amounts and terms.
Legislative Description
To grant an income tax credit to individuals who earn degrees in science, technology, engineering, or math-based fields of study and to authorize municipal corporations to grant a credit to individuals qualifying for the state credit.
Income tax credits-earn science/technology/engineering/math-based degree
Last Action
To Ways & Means & Economic Development
10/29/2009