OH SB58

Creates nonrefundable tax credits for employers hiring "qualified reforming felons" beginning in tax year 2011, with credits calculated based on hours worked and capped at $2,400 or $1,500 per employee depending on hours.

Defines qualified reforming felons as individuals convicted of a felony who were hired within one year of conviction or release from incarceration, and whose family income is at or below 70% of the federal lower living standard.

Establishes 40% credit on wages (up to $2,400) for employees working 400+ hours annually, and 25% credit on wages (up to $1,500) for employees working 120-399 hours annually.

Allows unused credits to carry forward for up to five succeeding tax years and reduces credits proportionally if employment ends prematurely, except for voluntary termination, disability, death, or termination for cause.

Excludes employees receiving federal on-the-job training payments and those replacing striking or locked-out workers; applies to both corporate employers under section 5733.421 and pass-through entities under section 5747.391.