OH SB247

Enacts section 5747.82 to authorize a refundable income tax credit for investors in pass-through entities that own residential rental property and purchase energy-saving devices or make energy efficiency improvements to rental units on or after January 1, 2013.

Allows taxpayers to claim 15% of the purchase and installation costs of qualifying energy-saving devices (ENERGY STAR certified appliances, windows, doors) or improvements installed by Building Performance Institute-accredited persons as a refundable credit against Ohio income tax.

Defines "residential rental property" as real property with one or more dwelling units leased to tenants for residential purposes, excluding hotels and college dormitories.

Permits taxpayers to claim their proportionate or distributive share of the credit in the taxable year that includes the last day of the pass-through entity's taxable year when installation is completed, with any excess amount refundable.

Amends section 5747.98 to establish the order in which tax credits must be claimed, positioning the new rental property energy efficiency credit last among refundable credits.