H.B. 656 Summary

• Establishes a $50 refundable income tax credit for taxpayers age 55 and older who complete an approved financial literacy course.

• Credits must be applied to tax liability according to the order specified in section 5747.98, with any excess amount refunded to the taxpayer.

• Taxpayers may claim the credit only once in their lifetime for the tax year in which the course is completed.

• The Department of Commerce shall certify eligible financial literacy courses and publish an approved course list on its website.

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