OH HB567

Authorizes eligible individuals in Ohio to claim two earned income tax credits for taxable years ending in 2019, replacing the existing credit under section 5747.71 of the Revised Code

Establishes a nonrefundable credit equal to 15% of the federal earned income tax credit allowed under section 32 of the Internal Revenue Code, claimed in the same order as the existing state credit and limited to aggregate tax liability

Establishes a refundable credit equal to 15% of the federal earned income tax credit, claimed after all other credits, with any excess amount refunded to the taxpayer

Permits taxpayers who already filed their 2019 annual returns before this act's effective date to file amended returns within 90 days to claim additional refunds or tax reductions

Declares the act an emergency measure effective immediately to minimize economic impact from the COVID-19 outbreak