Loading chat...
OH HB43
Bill
Status
1/20/2011
Primary Sponsor
Barbara Boyd
Click for details
AI Summary
-
Increase the annual limit on tax credits issued by the Ohio Venture Capital Authority from $20 million to $26.5 million per fiscal year.
-
Increase the aggregate (total) limit on all tax credits issued by the authority from $380 million to $550 million.
-
Tax credits remain available for refundable tax credits under specified sections of Ohio Revised Code related to various business taxes (income, franchise, corporation, and pass-through entity taxes).
-
Credits may be claimed between July 1, 2007 and June 30, 2026, with extended availability through June 30, 2036 for certain loans made under section 4582.71 of the Revised Code.
-
Program administrators must provide annual estimates of likely tax credits to be claimed by lenders in the current and next fiscal years.
Legislative Description
To increase the annual and aggregate limit on the amount of tax credits the Ohio Venture Capital Authority may authorize.
Ohio Venture Capital Authority-increase limits on amount of tax credits
Last Action
To Economic & Small Business Development
1/20/2011