S.B. 203 Summary

• Creates an income tax credit for taxpayers who earn a degree in nonprofit management from an eligible institution, with a maximum credit of $1,500 per year for tuition and fees paid.

• Establishes an income tax credit for expenses incurred to complete professional certification programs, including the Institute of Organization Management, lobbying certificate program, public relations accreditation, and various certified event/fundraising designations, with a maximum credit of $500 (50% of expenses).

• Allows a sales tax exemption for out-of-state nonprofit corporations that relocate at least 50 full-time jobs to Ohio within one year of establishing a physical presence, upon receipt of a job relocation exemption certificate from the tax commissioner.

• Modifies the order of tax credits in Ohio's income tax code to include the new nonprofit management degree and professional certification credits in the calculation sequence.

• The exemption certificate for relocating nonprofits is valid for three years and may be revoked if the corporation fails to maintain the required 50 full-time positions in the state.