OH SB32

Creates a nonrefundable tax credit against Ohio income tax (section 5747.02) for taxpayers who purchase a new hybrid vehicle, effective for taxable years beginning January 1, 2009.

Defines a hybrid vehicle as a road vehicle powered by both an internal combustion engine using consumable fuel and a rechargeable energy storage system.

Sets credit amounts based on fuel economy: $3,000 for vehicles with 40+ miles per gallon combined city/highway driving; $2,000 for vehicles with less than 40 miles per gallon, as measured by the EPA.

Limits credit eligibility to first-time purchasers buying new vehicles (with titles never previously transferred except through manufacturers, remanufacturers, distributors, or dealers) for purposes other than resale.

Establishes the hybrid vehicle credit as the 19th credit in the statutory order of tax credits claimed under section 5747.98, positioned after the light and reflector credit and before the job retention credit.