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OH HB494
Bill
Status
3/27/2012
Primary Sponsor
Lorraine Fende
Click for details
AI Summary
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Establishes a 5% bid preference for state contracts awarded to qualifying veteran-owned businesses in competitive bidding processes.
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Defines "veteran" as someone who served in U.S. armed forces on active duty, was honorably discharged, and either served for non-training reasons or incurred a service-connected disability.
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Authorizes a $2,000 nonrefundable tax credit for employers hiring and employing a veteran for 12 consecutive months (at least 1,560 hours) under both personal income tax and commercial activity tax.
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Requires veteran employment tax credits to be claimed only once per individual veteran and prohibits claiming both the personal income tax credit and commercial activity tax credit for the same veteran.
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Amends state procurement preferences to include qualifying veteran-owned businesses alongside existing United States and Ohio product preferences in competitive bidding and contract evaluation procedures.
Legislative Description
To provide a five per cent bid preference for state contracts to a business owned by veterans and to authorize a personal income and commercial activity tax credit for a business that hires and employs a veteran for at least one year.
Veterans-state contract bid preference/employ veteran-tax credits
Last Action
To Ways & Means
3/27/2012