OH HB507

Allows a refundable income tax credit of $2,000 for each stillborn child for which a certificate recognizing delivery was issued under Ohio Revised Code section 3705.23.

Credit is claimed in the taxable year in which the stillbirth occurred and is refundable if it exceeds the taxpayer's aggregate tax liability after other credits.

Credit is claimed last in the order of tax credits specified in section 5747.98, after 26 other enumerated credits.

Excludes the stillborn children credit from the definition of "business credits" that apply to pass-through entity investors filing single returns.

Applies to taxable years ending on or after the bill's effective date.