OH SB171

Establishes a refundable income tax credit for individuals investing in sound recording production companies in Ohio, available for taxable years through 2026.

Credits equal 25% of eligible expenditures exceeding $10,000, capped at $75,000 per production or project and $1 million aggregate per fiscal year, awarded on a first-come, first-served basis.

Requires Director of Development to certify sound recording productions and capital infrastructure projects as tax credit-eligible, with applications including distribution plans, budgets, studio locations, and completion timelines.

Director may conduct audits of production companies' books and records, with audit costs proportionately reducing awarded credits, and may disallow expenditures determined ineligible.

Requires biennial reports through 2028 evaluating credit effects on employment, payroll, economic impact, and sound recording infrastructure development in Ohio.