OH SB129

Refundable tax credit equal to 1.3% of premiums paid by employers for group health benefit plans that provide basic health care services to Ohio resident employees

Applies across eight different Ohio tax types: domestic insurance company tax, financial institutions tax, public utility excise tax, kilowatt-hour tax, foreign insurance company tax, petroleum activity tax, personal income tax, and commercial activity tax

Self-insured employer health plans are excluded from the credit; only purchased group health benefit plans qualify

Employers cannot claim the credit on the same premiums under multiple tax sections; each premium payment can only be used as the basis for one credit claim

Credit amount exceeding tax liability is refunded to the taxpayer; applies to premiums paid on and after the bill's effective date