OH SB8

Establishes a nonrefundable tax credit equal to 10% of a taxpayer's investment in Ohio qualified opportunity funds that invest in projects located in Ohio opportunity zones.

Taxpayers may claim the credit in their qualifying taxable year or the next ensuing year, with unused amounts carried forward for up to five additional taxable years.

Director of development services limited to issuing certificates totaling $50 million per fiscal biennium, with no single applicant exceeding $1 million per biennium.

Requires annual reporting to the governor and legislature on projects funded, taxpayers invested, and locations of opportunity zones with funded projects.

Prohibits issuing opportunity zone investment certificates for any investment that already received a small business investment tax credit under section 122.86.