OH SB257

Creates a refundable income tax credit for donations of cash, real property, tangible personal property, or services to Ohio townships that have approved the donation.

Credit amount equals the lesser of $5,000 or the total qualifying donations made during the taxable year to one or more townships.

Requires donors to receive township approval before making donations, with approval requiring presentation of a donation plan and majority approval from the township board of trustees.

Establishes documentation requirements including itemized receipts from townships listing each donation, its value, and the date it was made; fair market value determines property and services valuations.

Applies to taxable years beginning on or after January 1, 2021, and excess refundable credit amounts are refunded to taxpayers.