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OH HB756

Bill

Official Source

Status

Introduced

3/11/2026

Primary Sponsor

Jack Daniels

Click for details

Origin

House of Representatives

136th General Assembly

AI Summary

  • Creates a new nonrefundable income tax credit equal to 7% of qualified research expenses incurred in Ohio that exceed the taxpayer's three-year average of such expenses
  • Allows unused credit amounts to be carried forward for up to seven taxable years
  • Requires taxpayers to retain records substantiating qualified research expenses for four years after filing the return claiming the credit
  • Prevents double-dipping by prohibiting the income tax credit if the same expenses were used for the existing commercial activity tax (CAT) research credit under section 5751.51
  • Applies to taxable years ending on or after the effective date of the act

Legislative Description

Expand research, development tax credit to apply to income tax

Taxation

Last Action

Referred to committee: Ways and Means

3/18/2026

Committee Referrals

Ways and Means3/18/2026

Full Bill Text

No bill text available