OH SB250

Creates a nonrefundable, transferable tax credit equal to 10% of the total cost to construct owner-occupied housing (including land value) for 501(c)(3) charitable organizations that own at least one acre of real property and facilitate housing construction sold to owner-occupants

Caps total credits at $25 million per fiscal year statewide, with individual organizations limited to $2 million per fiscal biennium

Allows credits to be claimed against domestic insurance company taxes, financial institution taxes, foreign insurance company taxes, and personal income taxes, with unused credits carried forward up to five years

Requires housing sales to transfer ownership of the unit and at least a leasehold interest in the land to the owner-occupant, though fee simple ownership of the underlying land is not required

Director of Development may grant preference to applications incorporating ground lease arrangements, deed restrictions, or other mechanisms to preserve affordability and owner-occupancy