| (B) There is hereby allowed a nonrefundable credit against | 24 |
|
the
tax imposed under this chapter for a taxpayer for which a tax | 25 |
|
credit
certificate is issued under section 5733.42 of the Revised | 26 |
|
Code.
The credit may be claimed for credit periods
beginning
on
or | 27 |
after January 1,
2003, and ending on or before
December
31,
2007 | 28 |
| 2008. The amount of the credit
for the credit period
beginning on | 29 |
|
January 1, 2003, shall equal one-half of
the
average
of the | 30 |
|
eligible training costs paid
or incurred by the
taxpayer
during | 31 |
|
calendar years
1998, 1999, and 2000,
not
to exceed one
thousand | 32 |
|
dollars for each eligible
employee on
account of
whom
eligible | 33 |
|
training costs were paid or
incurred by
the taxpayer.
The amount | 34 |
|
of the credit for the credit period
beginning on January 1, 2004, | 35 |
|
shall equal one-half of the average
of the eligible training costs | 36 |
|
paid or incurred by the taxpayer
during calendar years 2002, 2003, | 37 |
|
and 2004, not to exceed one
thousand dollars for each eligible | 38 |
|
employee on account of whom
eligible training costs were paid or | 39 |
|
incurred by the taxpayer.
The
amount of the credit for the credit | 40 |
|
period beginning on
January 1,
2005, shall equal one-half of the | 41 |
|
average of the
eligible training
costs paid or incurred by the | 42 |
|
taxpayer during
calendar years 2003,
2004, and 2005, not to exceed | 43 |
|
one thousand
dollars for each
eligible employee on account of whom | 44 |
|
eligible
training costs were
paid or incurred by the taxpayer.
The | 45 |
|
amount of the credit for the credit period beginning on January 1, | 46 |
|
2006, shall equal one-half of the average of the eligible training | 47 |
|
costs paid or incurred by the taxpayer during calendar years 2004, | 48 |
|
2005, and 2006, not to exceed one thousand dollars for each | 49 |
|
eligible employee on account of whom eligible training costs were | 50 |
|
paid or incurred by the taxpayer. The amount of the credit for the | 51 |
|
credit period beginning on January 1, 2007, shall equal one-half | 52 |
|
of the average of the eligible training costs paid or incurred by | 53 |
|
the taxpayer during calendar years 2005, 2006, and 2007, not to | 54 |
|
exceed one thousand dollars for each eligible employee on account | 55 |
|
of whom eligible training costs were paid or incurred by the | 56 |
|
taxpayer. The amount of the credit for the credit period beginning | 57 |
|
on January 1, 2008, shall equal one-half of the average of the | 58 |
|
eligible training costs paid or incurred by the taxpayer during | 59 |
|
calendar years 2006, 2007, and 2008, not to exceed one thousand | 60 |
|
dollars for each eligible employee on account of whom eligible | 61 |
|
training costs were paid or incurred by the taxpayer. | 62 |
| There is hereby allowed a nonrefundable credit against the | 87 |
|
tax
imposed under this chapter for a foreign insurance company for | 88 |
|
which a
tax credit certificate is issued under section 5733.42 of | 89 |
|
the Revised Code. The credit may
be
claimed for credit periods | 90 |
|
beginning on or after January 1,
2003,
and ending on or
before | 91 |
December 31,
20072008. The amount of the
credit
for the
credit | 92 |
|
period beginning on January 1, 2003, shall
equal one-half
of the | 93 |
|
average of the eligible training costs paid
or incurred by
the | 94 |
|
company
during
calendar years
1998, 1999, and
2000, not to
exceed | 95 |
|
one thousand dollars
for
each
eligible
employee on account
of whom | 96 |
|
eligible training
costs were
paid or
incurred by the
company.
The | 97 |
|
amount of the credit for the credit
period beginning
on January 1, | 98 |
|
2004, shall equal one-half of the
average of the
eligible training | 99 |
|
costs paid or incurred by the
company during
calendar years 2002, | 100 |
|
2003, and 2004, not to exceed
one thousand
dollars for each | 101 |
|
eligible employee on account of whom
eligible
training costs were | 102 |
|
paid or incurred by the company. The
amount
of the credit for the | 103 |
|
credit period beginning on January 1,
2005,
shall equal one-half | 104 |
|
of the average of the eligible training
costs
paid or incurred by | 105 |
|
the company during calendar years 2003,
2004,
and 2005, not to | 106 |
|
exceed one thousand dollars for each
eligible
employee on account | 107 |
|
of whom eligible training costs were
paid or
incurred by the | 108 |
|
company. The amount of the credit for the credit period beginning | 109 |
|
on January 1, 2006, shall equal one-half of the average of the | 110 |
|
eligible training costs paid or incurred by the company during | 111 |
|
calendar years 2004, 2005, and 2006, not to exceed one thousand | 112 |
|
dollars for each eligible employee on account of whom eligible | 113 |
|
training costs were paid or incurred by the company. The amount of | 114 |
|
the credit for the credit period beginning on January 1, 2007, | 115 |
|
shall equal one-half of the average of the eligible training costs | 116 |
|
paid or incurred by the company during calendar years 2005, 2006, | 117 |
|
and 2007, not to exceed one thousand dollars for each eligible | 118 |
|
employee on account of whom eligible training costs were paid or | 119 |
|
incurred by the company. The
amount
of the credit for the
credit | 120 |
|
period beginning on January 1,
2008,
shall equal one-half
of the | 121 |
|
average of the eligible training
costs
paid or incurred by
the | 122 |
|
company during calendar years 2006,
2007,
and 2008, not to
exceed | 123 |
|
one thousand dollars for each
eligible
employee on account
of | 124 |
|
whom eligible training costs were
paid or
incurred by the | 125 |
|
company. | 126 |
| (1)
"Eligible training program" means a program to provide | 149 |
|
job
skills to eligible employees who are unable effectively to | 150 |
|
function on the job due to skill deficiencies or who would | 151 |
|
otherwise be displaced because of their skill deficiencies or | 152 |
|
inability to use new technology, or to provide job skills to | 153 |
|
eligible employees that enable them to perform other job duties | 154 |
|
for the
taxpayer. Eligible training programs do
not include | 155 |
|
executive, management, or personal
enrichment training programs, | 156 |
|
or training programs intended
exclusively for personal career | 157 |
|
development. | 158 |
| (2)
"Eligible employee" means an individual who is employed | 159 |
|
in this state by a taxpayer and has been so employed by the same | 160 |
|
taxpayer for at least one
hundred eighty consecutive days before | 161 |
|
the day an application for the credit is filed under
this section. | 162 |
|
"Eligible employee" does not include
any employee for which a | 163 |
|
credit is claimed pursuant to division
(A)(5) of section
5709.65 | 164 |
|
of the Revised Code for all or any part of the same year, an | 165 |
|
employee who is not a full-time employee, or executive or | 166 |
|
managerial personnel, except for the immediate supervisors of | 167 |
|
nonexecutive, nonmanagerial personnel. | 168 |
| (B) There is hereby allowed
a nonrefundable credit against | 186 |
|
the tax imposed
by section 5733.06 of the Revised Code
for | 187 |
|
taxpayers for which a tax credit certificate is issued under | 188 |
|
division (C) of this section.
The credit may
be claimed for
tax
| 189 |
years 2004,
2005, 2006, 2007, and 2008, and 2009.
The amount of | 190 |
|
the
credit for
tax year
2004 shall equal one-half of the
average | 191 |
|
of
the eligible
training costs
paid or incurred by the taxpayer | 192 |
|
during
calendar
years
1999, 2000, and 2001, not to
exceed
one | 193 |
|
thousand dollars
for each
eligible employee on
account of
whom | 194 |
|
eligible training
costs were
paid or
incurred by
the taxpayer | 195 |
|
during those calendar
years.
The amount of the
credit for tax year | 196 |
|
2005 shall equal
one-half of the average of
the eligible training | 197 |
|
costs paid or
incurred by the taxpayer
during calendar years 2002, | 198 |
|
2003, and
2004, not to exceed one
thousand dollars for each | 199 |
|
eligible
employee on account of whom
eligible training costs were | 200 |
|
paid or
incurred by the taxpayer
during those calendar years. The | 201 |
|
amount
of the credit for tax
year 2006 shall equal one-half of the | 202 |
|
average of the eligible
training costs paid or incurred by the | 203 |
|
taxpayer during calendar
years 2003, 2004, and 2005, not to exceed | 204 |
|
one thousand dollars for
each eligible employee on account of whom | 205 |
|
eligible training costs
were paid or incurred by the taxpayer | 206 |
|
during those calendar years.
The amount of the credit for tax year | 207 |
|
2007 shall equal one-half of the average of the eligible training | 208 |
|
costs paid or incurred by the taxpayer during calendar years 2004, | 209 |
|
2005, and 2006, not to exceed one thousand dollars for each | 210 |
|
eligible employee on account of whom eligible training costs were | 211 |
|
paid or incurred by the taxpayer during those calendar years. The | 212 |
|
amount of the credit for tax year 2008 shall equal one-half of the | 213 |
|
average of the eligible training costs paid or incurred by the | 214 |
|
taxpayer during calendar years 2005, 2006, and 2007, not to exceed | 215 |
|
one thousand dollars for each eligible employee on account of whom | 216 |
|
eligible training costs were paid or incurred by the taxpayer | 217 |
|
during those calendar years. The amount of the credit for tax year | 218 |
|
2009 shall equal one-half of the average of the eligible training | 219 |
|
costs paid or incurred by the taxpayer during calendar years 2006, | 220 |
|
2007, and 2008, not to exceed one thousand dollars for each | 221 |
|
eligible employee on account of whom eligible training costs were | 222 |
|
paid or incurred by the taxpayer during those calendar years. | 223 |
| (C) A taxpayer who proposes to conduct an eligible training | 226 |
|
program may apply to the director of job and family services
for a | 227 |
|
tax credit certificate under this section.
The taxpayer may apply | 228 |
for such a certificate for
tax years 2004, 2005, 2006, 2007,
and | 229 |
|
2008, and 2009 subject to
division
(L) of this section.
The | 230 |
|
director shall
prescribe the form of
the
application, which shall | 231 |
|
require a
detailed description of the
proposed training program.
| 232 |
|
The
director may require applicants to
remit an application fee | 233 |
|
with
each application filed with the
director. The fee shall not | 234 |
|
exceed
the reasonable and necessary
expenses incurred by the | 235 |
|
director in
receiving, reviewing, and
approving such applications | 236 |
|
and issuing tax credit
certificates.
Proceeds
from fees shall be | 237 |
|
used solely for the purpose of
receiving,
reviewing, and approving | 238 |
|
such applications and issuing
such certificates. | 239 |
| (D) If the director of job and family services denies an | 257 |
|
application for a
tax credit certificate, the director shall send | 258 |
|
notice of the denial and the
reason for denial to the applicant by | 259 |
|
certified mail, return receipt
requested. If the director | 260 |
|
determines that an
authorized
training program, as actually | 261 |
|
conducted, fails to meet the requirements of
this section or to | 262 |
|
comply with any condition set forth in the
authorization, the | 263 |
|
director may reduce the amount of the
tax credit previously | 264 |
|
granted.
If the director reduces a
tax credit, the director shall | 265 |
|
send notice of the reduction and the reason
for the reduction to | 266 |
|
the taxpayer by certified mail, return receipt requested,
and | 267 |
|
shall certify the reduction to the tax
commissioner or, in the | 268 |
|
case of the reduction of a credit
claimed by an insurance company, | 269 |
|
the superintendent of insurance. The tax
commissioner or | 270 |
|
superintendent of insurance shall reduce the credit
that may be | 271 |
|
claimed by the taxpayer accordingly. Within sixty days after | 272 |
|
receiving a notice of denial or notice of reduction of the tax | 273 |
|
credit, an
applicant or taxpayer may request, in writing, a | 274 |
|
hearing before the director
to review the denial or reduction. | 275 |
|
Within sixty days after receiving a
request that is filed within | 276 |
|
the prescribed time, the director shall hold such
a hearing at a | 277 |
|
location to be determined by the director. Within thirty days | 278 |
|
after the hearing is adjourned, the director shall issue a | 279 |
|
redetermination
affirming, reversing, or modifying the denial or | 280 |
|
reduction of the tax credit
and send notice of the redetermination | 281 |
|
to the applicant or taxpayer by
certified mail, return receipt | 282 |
|
requested, and shall issue a notice of the
redetermination to the | 283 |
|
tax commissioner or superintendent of insurance. If an
applicant | 284 |
|
or taxpayer is aggrieved by the director's redetermination, the | 285 |
|
applicant or taxpayer may appeal the redetermination to the board | 286 |
|
of tax
appeals in the manner prescribed by section 5717.02 of the | 287 |
|
Revised Code. | 288 |
| Financial statements and other information submitted
by an | 296 |
|
applicant to the director of job and family services
for a tax | 297 |
|
credit under this
section, and any information taken for any | 298 |
|
purpose from such
statements or information, are not public | 299 |
|
records subject to
section 149.43 of the Revised Code. However, | 300 |
|
the director
of job and family services, the tax
commissioner, or | 301 |
|
superintendent of insurance
may make use of the statements and | 302 |
|
other information for purposes of issuing
public reports or in | 303 |
|
connection with court proceedings
concerning tax credits allowed | 304 |
|
under this section and sections 5725.31,
5729.07, and 5747.39 of | 305 |
|
the Revised Code. | 306 |
| (F) The director of job and family services, in
accordance | 307 |
|
with Chapter
119. of the Revised Code, shall adopt rules necessary | 308 |
|
to
implement
this section and sections 5725.31, 5729.07, and | 309 |
|
5747.39 of the Revised Code. The
rules shall be adopted after | 310 |
|
consultation with the tax
commissioner and the superintendent of | 311 |
|
insurance. The rules shall require that if a taxpayer to which a | 312 |
|
tax credit certificate is issued under any of those sections | 313 |
|
permanently relocates or transfers employees trained under the tax | 314 |
|
credit certificate to another state or country within two years of | 315 |
|
receiving the certificate, the taxpayer shall repay the total | 316 |
|
amount of the tax credit received by the taxpayer for any | 317 |
|
employees permanently relocated or transferred. At the
time the | 318 |
|
director gives public notice under
division (A) of section 119.03 | 319 |
|
of the
Revised Code of the adoption
of the
rules, the director | 320 |
|
shall submit copies of the proposed
rules to the
chairpersons and | 321 |
|
ranking minority members of the
standing committees in
the senate | 322 |
|
and the house of representatives
to which legislation on economic | 323 |
|
development matters are
customarily referred. | 324 |
| (G) On or before the thirtieth day of September of 2001, | 325 |
2003,
2004,
2005, 2006, 2007, and 2008, and 2009 the director of | 326 |
|
job and
family
services
shall submit a report to the governor, the | 327 |
|
president
of
the
senate, and the speaker of the house of | 328 |
|
representatives on
the
tax
credit program under this section and | 329 |
|
sections 5725.31,
5729.07,
and 5747.39 of the Revised Code. The | 330 |
|
report shall
include
information on the number of training | 331 |
|
programs that were
authorized under those sections during the | 332 |
|
preceding calendar
year,
a description of each authorized training | 333 |
|
program, the
dollar
amounts of the credits granted, and an | 334 |
|
estimate of the
impact of
the credits on the economy of this | 335 |
|
state. | 336 |
| (H) The aggregate amount of credits authorized under this | 337 |
|
section and sections 5725.31, 5729.07, and 5747.39 of the Revised | 338 |
|
Code
shall not exceed twenty million dollars per calendar year.
No | 339 |
|
more than ten
million dollars in credits per calendar year
shall | 340 |
|
be authorized for persons engaged primarily in
manufacturing.
No | 341 |
|
less than five million dollars in credits per
calendar year
shall | 342 |
|
be set aside for persons engaged primarily
in
activities other | 343 |
|
than manufacturing and having fewer than five
hundred employees. | 344 |
|
Subject to such limits, the director of job and family services | 345 |
|
shall adopt a rule under division (F) of this section that | 346 |
|
establishes criteria and procedures for distribution of the | 347 |
|
credits. | 348 |
| (B)(1) For taxable years beginning
in 2003,
2004, 2005, 2006, | 374 |
and 2007, and 2008 there is
hereby allowed a nonrefundable credit | 375 |
|
against the tax
imposed by
section 5747.02 of the Revised Code for | 376 |
|
a taxpayer that
is an
investor in a
pass-through
entity for which | 377 |
|
a tax credit
certificate is issued under section 5733.42
of the | 378 |
|
Revised Code.
For the taxable year beginning in 2003, the
amount | 379 |
|
of eligible
training costs for which a credit may be
claimed by | 380 |
|
all taxpayers
that are investors in an entity shall
equal one-half | 381 |
|
of the
average of the
eligible training costs
incurred by the | 382 |
|
entity
during
calendar
years
1999, 2000, and
2001,
but shall not | 383 |
|
exceed
one
thousand dollars for each
eligible
employee on account | 384 |
|
of whom
such costs were paid or
incurred by
the
entity.
The amount | 385 |
|
of a taxpayer's credit for the taxpayer's taxable
year beginning | 386 |
|
in 2003 shall equal the taxpayer's interest in the
entity on | 387 |
|
December 31, 2001, multiplied by the credit available to
the | 388 |
|
entity as computed by the entity. | 389 |
| (2) For the taxable year beginning in 2004, the amount of the | 390 |
|
eligible training costs for which a credit may be claimed by all | 391 |
|
taxpayers that are investors in an entity shall equal one-half of | 392 |
|
the average of the eligible training costs incurred by the entity | 393 |
|
during calendar years 2002, 2003, and 2004, but shall not exceed | 394 |
|
one thousand dollars for each eligible employee on account of whom | 395 |
|
such costs were paid or incurred by the entity. The amount of a | 396 |
|
taxpayer's credit for the taxpayer's taxable year beginning in | 397 |
|
2004 shall equal the taxpayer's interest in the entity on December | 398 |
|
31, 2004, multiplied by the credit available to the entity as | 399 |
|
computed by the entity. | 400 |
| (3) For the taxable year beginning in 2005, the amount of the | 401 |
|
eligible training costs for which a credit may be claimed by all | 402 |
|
taxpayers that are investors in an entity shall equal one-half of | 403 |
|
the average of the eligible training costs incurred by the entity | 404 |
|
during calendar years 2003, 2004, and 2005, but shall not exceed | 405 |
|
one thousand dollars for each eligible employee on account of whom | 406 |
|
such costs were paid or incurred by the entity. The amount of a | 407 |
|
taxpayer's credit
for the taxpayer's taxable year beginning in | 408 |
|
2005 shall equal the taxpayer's
interest in the entity on
December | 409 |
|
31,
2005, multiplied by the credit available to the
entity as | 410 |
|
computed
by the entity. | 411 |
| (4) For the taxable year beginning in 2006, the amount of the | 412 |
|
eligible training costs for which a credit may be claimed by all | 413 |
|
taxpayers that are investors in an entity shall equal one-half of | 414 |
|
the average of the eligible training costs incurred by the entity | 415 |
|
during calendar years 2004, 2005, and 2006, but shall not exceed | 416 |
|
one thousand dollars for each eligible employee on account of whom | 417 |
|
such costs were paid or incurred by the entity. The amount of a | 418 |
|
taxpayer's credit for the taxpayer's taxable year beginning in | 419 |
|
2006 shall equal the taxpayer's interest in the entity on December | 420 |
|
31, 2006, multiplied by the credit available to the entity as | 421 |
|
computed by the entity. | 422 |
|
(5) For the taxable year beginning in 2007, the amount of the | 423 |
|
eligible training costs for which a credit may be claimed by all | 424 |
|
taxpayers that are investors in an entity shall equal one-half of | 425 |
|
the average of the eligible training costs incurred by the entity | 426 |
|
during calendar years 2005, 2006, and 2007, but shall not exceed | 427 |
|
one thousand dollars for each eligible employee on account of whom | 428 |
|
such costs were paid or incurred by the entity. The amount of a | 429 |
|
taxpayer's credit for the taxpayer's taxable year beginning in | 430 |
|
2007 shall equal the taxpayer's interest in the entity on December | 431 |
|
31, 2007, multiplied by the credit available to the entity as | 432 |
|
computed by the entity. | 433 |
| (6) For the taxable year beginning in 2008, the amount of the | 434 |
|
eligible training costs for which a credit may be claimed by all | 435 |
|
taxpayers that are investors in an entity shall equal one-half of | 436 |
|
the average of the eligible training costs incurred by the entity | 437 |
|
during calendar years 2006, 2007, and 2008, but shall not exceed | 438 |
|
one thousand dollars for each eligible employee on account of whom | 439 |
|
such costs were paid or incurred by the entity. The amount of a | 440 |
|
taxpayer's credit for the taxpayer's taxable year beginning in | 441 |
|
2008 shall equal the taxpayer's interest in the entity on December | 442 |
|
31, 2008, multiplied by the credit available to the entity as | 443 |
|
computed by the entity. | 444 |