OH SB284

Authorizes a nonrefundable tax credit equal to 50% of cash contributions made to qualified child care programs, capped at $5,000 per calendar year, for domestic insurance companies, foreign insurance companies, and various taxpayer categories

Defines "qualifying child care program" as a licensed child care program rated at least at the fourth highest tier in Ohio's Step Up to Quality program established in section 5104.29

Allows excess credits to be carried forward for up to 5 years, with the amount of excess credit claimed deducted from the balance carried forward to the next year

Requires taxpayers claiming the credit to provide the tax commissioner or superintendent of insurance with a receipt or document from the child care program acknowledging the contribution and amount

Prohibits claiming the same contribution as a basis for multiple credits under sections 5725.36, 5726.58, 5727.242, 5727.301, 5729.19, 5736.51, 5747.83, or 5751.55