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OH HB18
Bill
Status
8/6/2012
Primary Sponsor
Denise Driehaus
Click for details
AI Summary
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Establishes a Vacant Facilities Grant Fund providing $500 per qualifying employee to employers who occupy previously vacant commercial space and hire new workers, with up to $2,000,000 in initial funding by July 1, 2012.
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Defines eligible vacant commercial space as unoccupied for 12 months in buildings or business parks where at least 75% of square footage has been vacant for the same period.
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Requires employers to hire at least 50 employees or 50% of their in-state workforce at the vacant facility, with each qualifying employee working minimum 40 hours per week for at least one year at wages meeting state minimum wage requirements.
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Limits grant applications to three years from the bill's effective date and restricts eligibility to employers not claiming other state tax credits or incentives in the application year; each employer may receive only one grant.
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Requires employers to use grant funds for acquisition, construction, improvement, or equipment of property and facilities at the vacant commercial space location.
Legislative Description
To authorize grants to an employer that moves operations into a previously vacant facility and increases payroll by hiring and employing employees at the facility.
Tax credit-business that increases payroll & expands into vacant facility
Last Action
Effective Date
8/6/2012