OH SB2

Amends Ohio Revised Code section 5701.11 to incorporate changes in the Internal Revenue Code since April 1, 2015, into Ohio tax law.

Establishes that references to the Internal Revenue Code or U.S. laws "as amended" in Ohio tax code mean those laws as they exist on the effective date of this amendment.

Allows taxpayers with taxable years ending after April 1, 2015, and before this act's effective date to irrevocably elect to use current federal income tax provisions instead of the provisions that would otherwise apply.

Preserves prior elections made under previous versions of the statute for their respective taxable years.

Declared an emergency measure effective immediately to enable taxpayers to avoid making additional adjustments on 2015 tax returns that would increase tax liabilities.