OH HB340

Creates a nonrefundable income tax credit of $1,000 for employers who pay childbirth bonuses of at least $1,000 to employees when the employee or their spouse gives birth to or adopts a child

Employers must adopt a qualifying childbirth bonus policy that entitles all employees to the bonus upon submission of a birth or adoption record

Caps the total childbirth bonuses eligible for the credit at $50,000 per employer per taxable year

Unused credit amounts may be carried forward for up to five taxable years

Employers must maintain records supporting the credit for at least five years, and the tax commissioner may require documentation including the bonus policy and employee pay stubs