As Reported by the House Ways and Means Committee

126th General Assembly Regular Session 2005-2006

Sub. H. B. No. 149

Representatives Calvert, Raga, McGregor, J., Evans, C., Latta, Aslanides, Hartnett, Chandler, Oelslager, Gibbs, Seitz, Gilb, Collier, Schaffer, Kilbane, Hagan 

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A BILL

To amend sections 5733.01, 5733.98, and 5747.98 and

1

to enact sections 149.307, 5703.75, 5733.47, and

2

5747.76 of the Revised Code to authorize a

3

nonrefundable tax credit for rehabilitating a

4

historic building.

5

BE IT ENACTED BY THE GENERAL ASSEMBLY OF THE STATE OF OHIO:

Section 1. That sections 5733.01, 5733.98, and 5747.98 be	6
amended and sections 149.307, 5703.75, 5733.47, and 5747.76 of the	7
Revised Code be enacted to read as follows:	8

Sec. 149.307.  (A) As used in this section:

9

(1) "Certificate owner" means the owner or qualified lessee	10
of a historic building who is registered with the tax commissioner	11
under section 5703.75 of the Revised Code as the owner of a	12
rehabilitation tax credit certificate issued under this section,	13
or a credit transferee.	14

(2) "Historic building" means a building, including its	15
structural components, that is located in this state and that is	16
either:	17

(a) Individually listed on the national register of historic	18
places under 16 U.S.C. 470a, located in a registered historic	19
district, and certified by the state historic preservation officer	20
as being of historic significance to the district; or	21

(b) Individually listed as a historic landmark designated by	22
a local government certified under 16 U.S.C. 470a(c) and was	23
originally constructed prior to the year nineteen hundred.	24

(3) "Owner" of a building means a person holding the fee	25
simple interest in the building.	26

(4) "Qualified lessee" means a person occupying or otherwise	27
holding a historic building under a lease with a term ending not	28
earlier than five years after completion of the rehabilitation for	29
which a rehabilitation tax credit certificate may be issued under	30
this section, determined without regard to any renewal period of	31
the lease.	32

(5) "Qualified rehabilitation expenditures" means	33
expenditures paid or incurred during the rehabilitation period by	34
an owner or qualified lessee of a historic building to	35
rehabilitate the building, including architectural or engineering	36
fees paid or incurred in connection with the rehabilitation and	37
expenses paid or incurred in the preparation of nomination forms	38
for listing the building on the national register of historic	39
places. "Qualified rehabilitation expenditures" does not include	40
the cost of acquiring a building or expenditures to expand or	41
enlarge a historic building.	42

(6) "Registered historic district" means a historic district	43
listed in the national register of historic places under 16 U.S.C.	44
470a, a historic district designated by a local government	45
certified under 16 U.S.C. 470a(c), or a local historic district	46
certified under 36 C.F.R. 67.8 and 67.9.	47

(7) "Rehabilitation" means the process of returning a	48
building or buildings to a state of utility, through repair or	49
alteration, making possible an efficient use while preserving	50
those portions and features of the building and its site and	51
environment that are significant to its historic, architectural,	52
and cultural values.	53

(8) "Rehabilitation period" means one of the following:

54

(a) If the rehabilitation initially was not planned to be	55
completed in stages, a period not to exceed twenty-four months	56
beginning with the month in which physical rehabilitation work	57
begins;	58

(b) If the rehabilitation initially was planned to be	59
completed in stages, a period not to exceed sixty months beginning	60
with the month in which physical rehabilitation work begins.	61

(9) "State historic preservation officer" or "officer" means	62
the state historic preservation officer appointed by the governor	63
under 16 U.S.C. 470a.	64

(10) "Credit transferee" means the person to whom a	65
rehabilitation tax credit certificate is transferred under	66
division (E) of this section.	67

(B) The owner or qualified lessee of a historic building may	68
apply to the state historic preservation officer for a	69
rehabilitation tax credit certificate. The form and manner of	70
filing such applications shall be prescribed by the state historic	71
preservation officer or the officer's designee. The officer or the	72
officer's designee shall accept and review such applications, and	73
may approve issuance of not more than twenty rehabilitation tax	74
credit certificates each calendar year. The officer or officer's	75
designee shall not issue a tax credit certificate unless the	76
officer or designee determines:	77

(1) That the building that is the subject of the application	78
is a historic building;	79

(2) That the rehabilitation satisfies standards prescribed by	80
the United States secretary of the interior under 16 U.S.C. 470,	81
et seq., as amended, and 36 C.F.R. 67.7 or a successor to that	82
section; and	83

(3) That the expenditures to rehabilitate the building are	84
qualified rehabilitation expenditures and are reported by the	85
applicant to exceed the greater of five thousand dollars or the	86
adjusted basis of the building as it would be determined under	87
subparagraph (c)(1)(C) of section 47 of the Internal Revenue Code	88
excluding the cost of acquiring the building.	89

(4) That the building, once rehabilitated, is intended to be	90
held as income-producing property for which depreciation, or	91
amortization in lieu of depreciation, is allowable under the	92
Internal Revenue Code.	93

The state historic preservation officer or the officer's	94
designee may prescribe criteria in addition to those specified in	95
divisions (B)(1), (2), and (3) of this section for the purpose of	96
ranking applications in the priority in which tax credit	97
certificates shall be issued within the limitation on the number	98
of certificates that may be issued each year.	99

An applicant shall demonstrate to the satisfaction of the	100
state historic preservation officer or the officer's designee that	101
the rehabilitation satisfies the standards described in division	102
(B)(2) of this section before the applicant begins physical	103
rehabilitation work. Before physical rehabilitation work begins,	104
the applicant shall cause the building to be appraised to	105
determine the building's fair market value, and shall submit a	106
copy of the appraisal with the application for the tax credit	107
certificate. A rehabilitation tax credit certificate for a	108
historic building shall not be issued before rehabilitation of the	109
building is completed. Upon the request of the state historic	110
preservation officer or the officer's designee, the applicant	111
shall provide documentation of qualified rehabilitation	112
expenditures.	113

(C) Rehabilitation tax credit certificates shall be in a form	114
to be devised by the state historic preservation officer or the	115
officer's designee with the advice of the tax commissioner, shall	116
identify the applicant and the building that is the subject of the	117
application, shall show the amount of the qualified rehabilitation	118
expenditures the applicant claims to have paid or incurred, and	119
shall bear a unique registration number. Issuance of a certificate	120
represents a finding by the officer or the officer's designee of	121
the matters described in divisions (B)(1), (2), and (3) of this	122
section only; issuance of a certificate does not represent a	123
verification or certification by the officer or the officer's	124
designee of the amount of qualified rehabilitation expenditures	125
for which a tax credit may be claimed. The amount of qualified	126
rehabilitation expenditures for which a tax credit may be claimed	127
is subject to inspection and examination by the tax commissioner	128
or employees of the commissioner under section 5703.19 of the	129
Revised Code and any other applicable provision of law. Upon the	130
issuance of a certificate, the state historic preservation officer	131
or designee shall certify to the tax commissioner, in the form and	132
manner requested by the tax commissioner, the name of the person	133
to whom the certificate was issued, the dollar amount of qualified	134
rehabilitation expenditures shown on the certificate, the	135
registration number of the certificate, the fair market value of	136
the building that is the subject of the certificate as indicated	137
in the appraisal conducted pursuant to division (B) of this	138
section, and any other information required by the tax	139
commissioner.	140

(D) The state historic preservation officer may fix and	141
collect a reasonable fee payable at the time an application for a	142
rehabilitation tax credit certificate is filed. Proceeds from the	143
fee shall be used exclusively to defray the expenses incurred by	144
the historic preservation office in administering this section.	145

(E) The person to whom a rehabilitation tax credit	146
certificate is issued may sell or otherwise transfer the	147
certificate to another person for consideration or otherwise.	148
Within thirty days after the transfer, the transferee shall notify	149
the tax commissioner, in writing, of the transfer, and shall	150
indicate on the notice the registration number of the certificate,	151
the name and mailing address of the credit transferee, and any	152
other information required by the tax commissioner. For good cause	153
shown, the tax commissioner may extend the time for filing the	154
notice.	155

The transfer of a certificate does not affect the right of	156
the tax commissioner to examine the books and records of the owner	157
or qualified lessee to whom the certificate was originally issued	158
for the purpose of verifying or confirming qualified	159
rehabilitation expenditures.	160

A transferee of a certificate may not transfer the	161
certificate to any other person.	162

Sec. 5703.75. For the purpose of sections 5733.47 and 5747.76	163
of the Revised Code, the tax commissioner shall compile and	164
maintain a register of rehabilitation tax credit certificates	165
issued under section 149.307 of the Revised Code. The register	166
shall record, according to the registration number of each	167
certificate issued, the name of the person to which the	168
certificate is issued and the dollar amount of qualified	169
rehabilitation expenditures the person claims to have paid or	170
incurred. If a rehabilitation tax credit certificate was	171
transferred to a credit transferee and the credit transferee	172
notified the tax commissioner of the transfer as required under	173
division (E) of section 143.307 of the Revised Code, the tax	174
commissioner shall make a notation of the transfer on the register	175
and shall record the name and address of the credit transferee in	176
the register as the new certificate owner.	177

Within one year after a rehabilitation tax credit certificate	178
is issued, the tax commissioner shall cause the building that is	179
the subject of the certificate to be appraised to compute the	180
amount, if any, by which the current estimated fair market value	181
of the building exceeds its fair market value as estimated in the	182
appraisal conducted pursuant to division (B) of section 149.307 of	183
the Revised Code. On or before the last day of March each year	184
beginning with the year after the first tax credit certificates	185
are issued under section 149.307 of the Revised Code, the tax	186
commissioner shall prepare a report showing the extent of such	187
increases in appraised fair market values of buildings for which	188
the tax commissioner caused an appraisal to be conducted under	189
this section in the preceding year, and shall submit copies of the	190
report to the president of the senate and the speaker of the house	191
of representatives.	192

Sec. 5733.01.  (A) The tax provided by this chapter for	193
domestic corporations shall be the amount charged against each	194
corporation organized for profit under the laws of this state and	195
each nonprofit corporation organized pursuant to Chapter 1729. of	196
the Revised Code, except as provided in sections 5733.09 and	197
5733.10 of the Revised Code, for the privilege of exercising its	198
franchise during the calendar year in which that amount is	199
payable, and the tax provided by this chapter for foreign	200
corporations shall be the amount charged against each corporation	201
organized for profit and each nonprofit corporation organized or	202
operating in the same or similar manner as nonprofit corporations	203
organized under Chapter 1729. of the Revised Code, under the laws	204
of any state or country other than this state, except as provided	205
in sections 5733.09 and 5733.10 of the Revised Code, for the	206
privilege of doing business in this state, owning or using a part	207
or all of its capital or property in this state, holding a	208
certificate of compliance with the laws of this state authorizing	209
it to do business in this state, or otherwise having nexus in or	210
with this state under the Constitution of the United States,	211
during the calendar year in which that amount is payable.	212

(B) A corporation is subject to the tax imposed by section	213
5733.06 of the Revised Code for each calendar year that it is so	214
organized, doing business, owning or using a part or all of its	215
capital or property, holding a certificate of compliance, or	216
otherwise having nexus in or with this state under the	217
Constitution of the United States, on the first day of January of	218
that calendar year.	219

(C) Any corporation subject to this chapter that is not	220
subject to the federal income tax shall file its returns and	221
compute its tax liability as required by this chapter in the same	222
manner as if that corporation were subject to the federal income	223
tax.	224

(D) For purposes of this chapter, a federally chartered	225
financial institution shall be deemed to be organized under the	226
laws of the state within which its principal office is located.	227

(E) For purposes of this chapter, any person, as defined in	228
section 5701.01 of the Revised Code, shall be treated as a	229
corporation if the person is classified for federal income tax	230
purposes as an association taxable as a corporation, and an equity	231
interest in the person shall be treated as capital stock of the	232
person.	233

(F) For the purposes of this chapter, "disregarded entity"	234
has the same meaning as in division (D) of section 5745.01 of the	235
Revised Code.	236

(1) A person's interest in a disregarded entity, whether held	237
directly or indirectly, shall be treated as the person's ownership	238
of the assets and liabilities of the disregarded entity, and the	239
income, including gain or loss, shall be included in the person's	240
net income under this chapter.	241

(2) Any sale, exchange, or other disposition of the person's	242
interest in the disregarded entity, whether held directly or	243
indirectly, shall be treated as a sale, exchange, or other	244
disposition of the person's share of the disregarded entity's	245
underlying assets or liabilities, and the gain or loss from such	246
sale, exchange, or disposition shall be included in the person's	247
net income under this chapter.	248

(3) The disregarded entity's payroll, property, and sales	249
factors shall be included in the person's factors.	250

(G) The tax a corporation is required to pay under this	251
chapter shall be as follows:	252

(1)(a) For financial institutions, the greater of the minimum	253
payment required under division (E) of section 5733.06 of the	254
Revised Code or the difference between all taxes charged the	255
financial institution under this chapter, without regard to	256
division (G)(2) of this section, less any credits allowable	257
against such tax.	258

(b) A corporation satisfying the description in division	259
(E)(5), (6), (7), (8), or (10) of section 5751.01 of the Revised	260
Code that is not a financial institution, insurance company, or	261
dealer in intangibles is subject to the taxes imposed under this	262
chapter as a corporation and not subject to tax as a financial	263
institution, and shall pay the greater of the minimum payment	264
required under division (E) of section 5733.06 of the Revised Code	265
or the difference between all the taxes charged under this	266
chapter, without regard to division (G)(2) of this section, less	267
any credits allowable against such tax.	268

(2) For all corporations other than those persons described	269
in division (G)(1)(a) or (b) of this section, the amount under	270
division (G)(2)(a) of this section applicable to the tax year	271
specified less the amount under division (G)(2)(b) of this	272
section:	273

(a)(i) For tax year 2005, the greater of the minimum payment	274
required under division (E) of section 5733.06 of the Revised Code	275
or the difference between all taxes charged the corporation under	276
this chapter and any credits allowable against such tax;	277

(ii) For tax year 2006, the greater of the minimum payment	278
required under division (E) of section 5733.06 of the Revised Code	279
or four-fifths of the difference between all taxes charged the	280
corporation under this chapter and any credits allowable against	281
such tax except the qualifying pass-through entity tax credit	282
described in division (A)(30)(31) and the refundable credits	283
described in divisions (A)(31), (32), and(32), (33), and (34) of	284
section 5733.98 of the Revised Code;	285

(iii) For tax year 2007, the greater of the minimum payment	286
required under division (E) of section 5733.06 of the Revised Code	287
or three-fifths of the difference between all taxes charged the	288
corporation under this chapter and any credits allowable against	289
such tax except the qualifying pass-through entity tax credit	290
described in division (A)(30)(31) and the refundable credits	291
described in divisions (A)(31), (32), and(32), (33), and (34) of	292
section 5733.98 of the Revised Code;	293

(iv) For tax year 2008, the greater of the minimum payment	294
required under division (E) of section 5733.06 of the Revised Code	295
or two-fifths of the difference between all taxes charged the	296
corporation under this chapter and any credits allowable against	297
such tax except the qualifying pass-through entity tax credit	298
described in division (A)(30)(31) and the refundable credits	299
described in divisions (A)(31), (32), and(32), (33), and (34) of	300
section 5733.98 of the Revised Code;	301

(v) For tax year 2009, the greater of the minimum payment	302
required under division (E) of section 5733.06 of the Revised Code	303
or one-fifth of the difference between all taxes charged the	304
corporation under this chapter and any credits allowable against	305
such tax except the qualifying pass-through entity tax credit	306
described in division (A)(30)(31) and the refundable credits	307
described in divisions (A)(31), (32), and(32), (33), and (34) of	308
section 5733.98 of the Revised Code;	309

(vi) For tax year 2010 and each tax year thereafter, no tax.

310

(b) A corporation shall subtract from the amount calculated	311
under division (G)(2)(a)(ii), (iii), (iv), or (v) of this section	312
any qualifying pass-through entity tax credit described in	313
division (A)(30)(31) and any refundable credits described in	314
divisions (A)(31), (32), and(32), (33), and (34) of section	315
5733.98 of the Revised Code to which the corporation is entitled.	316
Any unused qualifying pass-through entity tax credit is not	317
refundable.	318

(c) For the purposes of computing the amount of a credit that	319
may be carried forward to a subsequent tax year under division	320
(G)(2) of this section, a credit is utilized against the tax for a	321
tax year to the extent the credit applies against the tax for that	322
tax year, even if the difference is then multiplied by the	323
applicable fraction under division (G)(2)(a) of this section.	324

(3) Nothing in division (G) of this section eliminates or	325
reduces the tax imposed by section 5733.41 of the Revised Code on	326
a qualifying pass-through entity.	327

Sec. 5733.47. (A) As used in this section, "certificate	328
owner" and "qualified rehabilitation expenditures" have the same	329
meanings as in section 149.307 of the Revised Code.	330

(B) There is hereby allowed a nonrefundable credit against	331
the tax imposed under section 5733.06 of the Revised Code for a	332
taxpayer that is the certificate owner of a rehabilitation tax	333
credit certificate issued under section 149.307 of the Revised	334
Code. The credit equals twenty-five per cent of the dollar amount	335
of the taxpayer's qualified rehabilitation expenditures indicated	336
in the tax commissioner's register maintained under section	337
5703.75 of the Revised Code. The credit shall be claimed in the	338
order prescribed in section 5733.98 of the Revised Code. If the	339
amount of the credit exceeds the amount of tax otherwise due under	340
section 5733.06 of the Revised Code after deducting any other	341
credits preceding the credit allowed by this section in that	342
order, the excess may be carried forward and deducted from the tax	343
otherwise due for ten subsequent tax years following the tax year	344
for which the credit is claimed under this section.	345

Credits allowed under this section may be claimed beginning	346
with tax year 2007. The total amount of credits claimed under this	347
section by a taxpayer for the same historic building shall not	348
exceed two hundred fifty thousand dollars.	349

A taxpayer claiming a credit under this section shall retain	350
the rehabilitation tax credit certificate for four years following	351
the end of the last tax year to which the credit, including any	352
carried-forward amount, is applied, and shall make the certificate	353
available for inspection by the tax commissioner upon the	354
commissioner's request during that period.	355

Sec. 5733.98.  (A) To provide a uniform procedure for	356
calculating the amount of tax imposed by section 5733.06 of the	357
Revised Code that is due under this chapter, a taxpayer shall	358
claim any credits to which it is entitled in the following order,	359
except as otherwise provided in section 5733.058 of the Revised	360
Code:	361

(1) For tax year 2005, the credit for taxes paid by a	362
qualifying pass-through entity allowed under section 5733.0611 of	363
the Revised Code;	364

(2) The credit allowed for financial institutions under	365
section 5733.45 of the Revised Code;	366

(3) The credit for qualifying affiliated groups under section	367
5733.068 of the Revised Code;	368

(4) The subsidiary corporation credit under section 5733.067	369
of the Revised Code;	370

(5) The savings and loan assessment credit under section	371
5733.063 of the Revised Code;	372

(6) The credit for recycling and litter prevention donations	373
under section 5733.064 of the Revised Code;	374

(7) The credit for employers that enter into agreements with	375
child day-care centers under section 5733.36 of the Revised Code;	376

(8) The credit for employers that reimburse employee child	377
care expenses under section 5733.38 of the Revised Code;	378

(9) The credit for maintaining railroad active grade crossing	379
warning devices under section 5733.43 of the Revised Code;	380

(10) The credit for purchases of lights and reflectors under	381
section 5733.44 of the Revised Code;	382

(11) The job retention credit under division (B) of section	383
5733.0610 of the Revised Code;	384

(12) The credit for losses on loans made under the Ohio	385
venture capital program under sections 150.01 to 150.10 of the	386
Revised Code if the taxpayer elected a nonrefundable credit under	387
section 150.07 of the Revised Code;	388

(13) The credit for purchases of new manufacturing machinery	389
and equipment under section 5733.31 or section 5733.311 of the	390
Revised Code;	391

(14) The second credit for purchases of new manufacturing	392
machinery and equipment under section 5733.33 of the Revised Code;	393

(15) The job training credit under section 5733.42 of the	394
Revised Code;	395

(16) The credit for qualified research expenses under section	396
5733.351 of the Revised Code;	397

(17) The enterprise zone credit under section 5709.66 of the	398
Revised Code;	399

(18) The credit for the eligible costs associated with a	400
voluntary action under section 5733.34 of the Revised Code;	401

(19) The credit for employers that establish on-site child	402
day-care centers under section 5733.37 of the Revised Code;	403

(20) The ethanol plant investment credit under section	404
5733.46 of the Revised Code;	405

(21) The credit for purchases of qualifying grape production	406
property under section 5733.32 of the Revised Code;	407

(22) The export sales credit under section 5733.069 of the	408
Revised Code;	409

(23) The credit for research and development and technology	410
transfer investors under section 5733.35 of the Revised Code;	411

(24) The enterprise zone credits under section 5709.65 of the	412
Revised Code;	413

(25) The credit for using Ohio coal under section 5733.39 of	414
the Revised Code;	415

(26) The credit for small telephone companies under section	416
5733.57 of the Revised Code;	417

(27) The credit for eligible nonrecurring 9-1-1 charges under	418
section 5733.55 of the Revised Code;	419

(28) The credit for providing programs to aid the	420
communicatively impaired under section 5733.56 of the Revised	421
Code;	422

(29) The credit for rehabilitating historic buildings under	423
section 5933.47 of the Revised Code;	424

(30) The research and development credit under section	425
5733.352 of the Revised Code;	426

(30)(31) For tax years 2006 and subsequent tax years, the	427
credit for taxes paid by a qualifying pass-through entity allowed	428
under section 5733.0611 of the Revised Code;	429

(31)(32) The refundable jobs creation credit under division	430
(A) of section 5733.0610 of the Revised Code;	431

(32)(33) The refundable credit for tax withheld under	432
division (B)(2) of section 5747.062 of the Revised Code;	433

(33)(34) The credit for losses on loans made to the Ohio	434
venture capital program under sections 150.01 to 150.10 of the	435
Revised Code if the taxpayer elected a refundable credit under	436
section 150.07 of the Revised Code.	437

(B) For any credit except the credits enumerated in divisions	438
(A)(31), (32), and (33), and (34) of this section, the amount of	439
the credit for a tax year shall not exceed the tax due after	440
allowing for any other credit that precedes it in the order	441
required under this section. Any excess amount of a particular	442
credit may be carried forward if authorized under the section	443
creating that credit.	444

Sec. 5747.76. (A) As used in this section, "certificate	445
owner" and "qualified rehabilitation expenditures" have the same	446
meanings as in section 149.307 of the Revised Code.	447

(B) There is hereby allowed a nonrefundable credit against	448
the tax imposed under section 5747.02 of the Revised Code for a	449
taxpayer that is the certificate owner of a rehabilitation tax	450
credit certificate issued under section 149.307 of the Revised	451
Code. The credit equals twenty-five per cent of the dollar amount	452
of the taxpayer's qualified rehabilitation expenditures indicated	453
in the tax commissioner's register maintained under section	454
5703.75 of the Revised Code. The credit shall be claimed in the	455
order prescribed in section 5747.98 of the Revised Code. If the	456
amount of the credit exceeds the amount of tax otherwise due under	457
section 5747.02 of the Revised Code after deducting any other	458
credits preceding the credit allowed by this section in that	459
order, the excess may be carried forward and deducted from the tax	460
otherwise due for ten subsequent taxable years following the tax	461
year for which the credit is claimed under this section.	462

Nothing in this section limits or disallows pass-through	463
treatment of the credit if the certificate owner is a pass-through	464
entity.	465

The credit may be claimed for taxable years beginning on or	466
after January 1, 2007. The total amount of credits claimed under	467
this section by a taxpayer for the same historic building for all	468
taxable years shall not exceed two hundred fifty thousand dollars.	469

A taxpayer claiming a credit under this section shall retain	470
the rehabilitation tax credit certificate for four years following	471
the end of the last taxable year to which the credit, including	472
any carried-forward amount, is applied, and shall make the	473
certificate available for inspection by the tax commissioner upon	474
the commissioner's request during that period.	475

Sec. 5747.98.  (A) To provide a uniform procedure for	476
calculating the amount of tax due under section 5747.02 of the	477
Revised Code, a taxpayer shall claim any credits to which the	478
taxpayer is entitled in the following order:	479

(1) The retirement income credit under division (B) of	480
section 5747.055 of the Revised Code;	481

(2) The senior citizen credit under division (C) of section	482
5747.05 of the Revised Code;	483

(3) The lump sum distribution credit under division (D) of	484
section 5747.05 of the Revised Code;	485

(4) The dependent care credit under section 5747.054 of the	486
Revised Code;	487

(5) The lump sum retirement income credit under division (C)	488
of section 5747.055 of the Revised Code;	489

(6) The lump sum retirement income credit under division (D)	490
of section 5747.055 of the Revised Code;	491

(7) The lump sum retirement income credit under division (E)	492
of section 5747.055 of the Revised Code;	493

(8) The low-income credit under section 5747.056 of the	494
Revised Code;	495

(9) The credit for displaced workers who pay for job training	496
under section 5747.27 of the Revised Code;	497

(10) The campaign contribution credit under section 5747.29	498
of the Revised Code;	499

(11) The twenty-dollar personal exemption credit under	500
section 5747.022 of the Revised Code;	501

(12) The joint filing credit under division (G) of section	502
5747.05 of the Revised Code;	503

(13) The nonresident credit under division (A) of section	504
5747.05 of the Revised Code;	505

(14) The credit for a resident's out-of-state income under	506
division (B) of section 5747.05 of the Revised Code;	507

(15) The credit for employers that enter into agreements with	508
child day-care centers under section 5747.34 of the Revised Code;	509

(16) The credit for employers that reimburse employee child	510
care expenses under section 5747.36 of the Revised Code;	511

(17) The credit for adoption of a minor child under section	512
5747.37 of the Revised Code;	513

(18) The credit for purchases of lights and reflectors under	514
section 5747.38 of the Revised Code;	515

(19) The job retention credit under division (B) of section	516
5747.058 of the Revised Code;	517

(20) The credit for losses on loans made under the Ohio	518
venture capital program under sections 150.01 to 150.10 of the	519
Revised Code if the taxpayer elected a nonrefundable credit under	520
section 150.07 of the Revised Code;	521

(21) The credit for purchases of new manufacturing machinery	522
and equipment under section 5747.26 or section 5747.261 of the	523
Revised Code;	524

(22) The second credit for purchases of new manufacturing	525
machinery and equipment and the credit for using Ohio coal under	526
section 5747.31 of the Revised Code;	527

(23) The job training credit under section 5747.39 of the	528
Revised Code;	529

(24) The enterprise zone credit under section 5709.66 of the	530
Revised Code;	531

(25) The credit for the eligible costs associated with a	532
voluntary action under section 5747.32 of the Revised Code;	533

(26) The credit for employers that establish on-site child	534
day-care centers under section 5747.35 of the Revised Code;	535

(27) The ethanol plant investment credit under section	536
5747.75 of the Revised Code;	537

(28) The credit for purchases of qualifying grape production	538
property under section 5747.28 of the Revised Code;	539

(29) The export sales credit under section 5747.057 of the	540
Revised Code;	541

(30) The credit for research and development and technology	542
transfer investors under section 5747.33 of the Revised Code;	543

(31) The credit for rehabilitating historic buildings under	544
section 5747.76 of the Revised Code;	545

(32) The enterprise zone credits under section 5709.65 of the	546
Revised Code;	547

(32)(33) The research and development credit under section	548
5747.331 of the Revised Code;	549

(33)(34) The refundable jobs creation credit under division	550
(A) of section 5747.058 of the Revised Code;	551

(34)(35) The refundable credit for taxes paid by a qualifying	552
entity granted under section 5747.059 of the Revised Code;	553

(35)(36) The refundable credits for taxes paid by a	554
qualifying pass-through entity granted under division (J) of	555
section 5747.08 of the Revised Code;	556

(36)(37) The refundable credit for tax withheld under	557
division (B)(1) of section 5747.062 of the Revised Code;	558

(37)(38) The credit for losses on loans made to the Ohio	559
venture capital program under sections 150.01 to 150.10 of the	560
Revised Code if the taxpayer elected a refundable credit under	561
section 150.07 of the Revised Code.	562

(B) For any credit, except the credits enumerated in	563
divisions (A)(33)(34) to (37)(38) of this section and the credit	564
granted under division (I) of section 5747.08 of the Revised Code,	565
the amount of the credit for a taxable year shall not exceed the	566
tax due after allowing for any other credit that precedes it in	567
the order required under this section. Any excess amount of a	568
particular credit may be carried forward if authorized under the	569
section creating that credit. Nothing in this chapter shall be	570
construed to allow a taxpayer to claim, directly or indirectly, a	571
credit more than once for a taxable year.	572

Section 2. That existing sections 5733.01, 5733.98, and	573
5747.98 of the Revised Code are hereby repealed.	574

Section 3.  Applications to the State Historic Preservation	575
Officer for a rehabilitation tax credit certificate under section	576
149.307 of the Revised Code may be filed on or after the first day	577
of the sixth month after the month in which this act takes effect.	578