Loading chat...

OH HB642

Bill

Official Source

Status

Introduced

1/12/2026

Primary Sponsor

Steve Demetriou

Click for details

Origin

House of Representatives

136th General Assembly

AI Summary

  • Removes the existing five-year limit on municipal income tax net operating loss carryforwards, allowing losses to be carried forward until fully utilized
  • Amends Ohio Revised Code sections 718.01, 718.81, and 718.84 governing municipal income tax definitions and calculations
  • Eliminates references to "pre-2017 net operating loss carryforward" as a separate category, consolidating net operating loss treatment
  • Applies to taxable years ending on or after the effective date of the legislation
  • Sponsored by Representative Demetriou in the 136th General Assembly (2025-2026 session)

Legislative Description

Remove limit on certain tax net operating loss carry-forwards

Taxation

Last Action

Referred to committee: Ways and Means

2/4/2026

Committee Referrals

Ways and Means2/4/2026

Full Bill Text

No bill text available