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OH HB494
Bill
Status
12/19/2014
Primary Sponsor
Kirk Schuring
Click for details
AI Summary
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Creates regional transportation improvement projects allowing multiple counties to cooperatively fund transportation improvements through securities issuance and pledged revenues from state, counties, and political subdivisions.
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Increases the contact period threshold for Ohio income tax residency presumption from 182 days to 212 days annually, allowing individuals to spend more time in Ohio before being presumed domiciled in the state.
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Authorizes qualified research and development loan payment tax credits retroactive to taxable years beginning in 2008, allowing claims against both state income tax and commercial activity tax with a $150,000 annual cap per loan.
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Permits municipal corporations and townships to designate property within joint economic development districts as community entertainment districts to facilitate alcohol licensing under specific conditions for restaurants and retail establishments.
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Establishes payment obligations for video lottery terminal permit holders to municipalities and townships where tracks were relocated, requiring annual $500,000 payments over three years split between the permit holder and Casino Operator Settlement Fund.
Legislative Description
, to amend Section 9 of Am. Sub. H.B. 386 of the 129th General Assembly, as subsequently amended, to amend Section 363.487 of Am. Sub. H.B. 59 of the 130th General Assembly, and to amend Section 363.10 of Am. Sub. H.B. 59 of the 130th General Assembly, as subsequently amended, to authorize counties to undertake regional transportation improvement projects funded by the issuance of securities and by revenue pledges from the state and political subdivisions and taxing districts located within the cooperating counties, to increase the amount of time a person may spend in Ohio before being presumed to be a resident for state income tax purposes, to authorize taxpayers eligible to claim a tax credit for qualified research and development loan payments to claim the credit, retroactive to taxable years beginning in 2008, against the income tax, to authorize municipal corporations and townships to create a community entertainment district as part of a joint economic development district contract, to make changes to video lottery terminal facilities, and to make an appropriation.
Counties-undertake regional transportation improvement projects/financing of
Last Action
Governor' Action
12/19/2014