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S. B. No. 310 As IntroducedAs Introduced
128th General Assembly | Regular Session | 2009-2010 |
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A BILL
To amend section 5747.98 and to enact section 5747.85
of the Revised Code to authorize an income tax
credit for residential landlords who improve a
rental unit's energy efficiency.
BE IT ENACTED BY THE GENERAL ASSEMBLY OF THE STATE OF OHIO:
Section 1. That section 5747.98 be amended and section
5747.85 of the Revised Code be enacted to read as follows:
Sec. 5747.85. (A) For purposes of this section:
(1) "Energy efficiency improvement" has the same meaning as
in section 1710.01 of the Revised Code.
(2) "Energy-saving device" means a residential washer, dryer,
range, refrigerator, freezer, water heater, dishwasher, trash
compactor, air conditioner, furnace, or other similar product used
for regulating air or water temperature, cooking, sanitary
purposes, or other household purposes, or a window or door on an
outside wall of a home, if the device carries the energy star
label indicating that it meets the efficiency criteria of the
energy star program established by the United States department of
energy and the United States environmental protection agency.
"Energy-saving device" does not include any television or other
appliance used primarily for entertainment.
(3) "Residential rental property" means real property on
which is located one or more dwelling units leased to tenants
solely for residential purposes, but does not include a hotel or a
college or university dormitory.
(4) "Pass-through entity" includes a sole proprietor.
(B) A taxpayer who is an investor in a pass-through entity
that owns residential rental property may claim a refundable
credit against the tax imposed by section 5747.02 of the Revised
Code if on or after January 1, 2011, the entity purchases and
installs in the rental property an energy-saving device or the
entity improves the rental property with an energy efficiency
improvement installed by a person who is accredited by the
building performance institute. The taxpayer may claim the
taxpayer's proportionate or distributive share of fifteen per cent
of the sum of the purchase and installation cost of the device or
improvement. The taxpayer shall claim the credit in the taxpayer's
taxable year that includes the last day of the pass-through
entity's taxable year in which the installation was completed. The
taxpayer shall claim the credit in the order required under
section 5747.98 of the Revised Code. If the credit amount exceeds
the tax otherwise due under section 5747.02 of the Revised Code
after deducting all other credits in that order, the taxpayer may
claim a refund of the excess.
Sec. 5747.98. (A) To provide a uniform procedure for
calculating the amount of tax due under section 5747.02 of the
Revised Code, a taxpayer shall claim any credits to which the
taxpayer is entitled in the following order:
(1) The retirement income credit under division (B) of
section 5747.055 of the Revised Code;
(2) The senior citizen credit under division (C) of section
5747.05 of the Revised Code;
(3) The lump sum distribution credit under division (D) of
section 5747.05 of the Revised Code;
(4) The dependent care credit under section 5747.054 of the
Revised Code;
(5) The lump sum retirement income credit under division (C)
of section 5747.055 of the Revised Code;
(6) The lump sum retirement income credit under division (D)
of section 5747.055 of the Revised Code;
(7) The lump sum retirement income credit under division (E)
of section 5747.055 of the Revised Code;
(8) The low-income credit under section 5747.056 of the
Revised Code;
(9) The credit for displaced workers who pay for job training
under section 5747.27 of the Revised Code;
(10) The campaign contribution credit under section 5747.29
of the Revised Code;
(11) The twenty-dollar personal exemption credit under
section 5747.022 of the Revised Code;
(12) The joint filing credit under division (G) of section
5747.05 of the Revised Code;
(13) The nonresident credit under division (A) of section
5747.05 of the Revised Code;
(14) The credit for a resident's out-of-state income under
division (B) of section 5747.05 of the Revised Code;
(15) The credit for employers that enter into agreements with
child day-care centers under section 5747.34 of the Revised Code;
(16) The credit for employers that reimburse employee child
care expenses under section 5747.36 of the Revised Code;
(17) The credit for adoption of a minor child under section
5747.37 of the Revised Code;
(18) The credit for purchases of lights and reflectors under
section 5747.38 of the Revised Code;
(19) The job retention credit under division (B) of section
5747.058 of the Revised Code;
(20) The credit for selling alternative fuel under section
5747.77 of the Revised Code;
(21) The second credit for purchases of new manufacturing
machinery and equipment and the credit for using Ohio coal under
section 5747.31 of the Revised Code;
(22) The job training credit under section 5747.39 of the
Revised Code;
(23) The enterprise zone credit under section 5709.66 of the
Revised Code;
(24) The credit for the eligible costs associated with a
voluntary action under section 5747.32 of the Revised Code;
(25) The credit for employers that establish on-site child
day-care centers under section 5747.35 of the Revised Code;
(26) The ethanol plant investment credit under section
5747.75 of the Revised Code;
(27) The credit for purchases of qualifying grape production
property under section 5747.28 of the Revised Code;
(28) The export sales credit under section 5747.057 of the
Revised Code;
(29) The credit for research and development and technology
transfer investors under section 5747.33 of the Revised Code;
(30) The enterprise zone credits under section 5709.65 of the
Revised Code;
(31) The research and development credit under section
5747.331 of the Revised Code;
(32) The credit for rehabilitating a historic building under
section 5747.76 of the Revised Code;
(33) The refundable credit for rehabilitating a historic
building under section 5747.76 of the Revised Code;
(34) The refundable jobs creation credit under division (A)
of section 5747.058 of the Revised Code;
(35) The refundable credit for taxes paid by a qualifying
entity granted under section 5747.059 of the Revised Code;
(36) The refundable credits for taxes paid by a qualifying
pass-through entity granted under division (J) of section 5747.08
of the Revised Code;
(37) The refundable credit for tax withheld under division
(B)(1) of section 5747.062 of the Revised Code;
(38) The refundable credit for tax withheld under section
5747.063 of the Revised Code;
(39) The refundable credit under section 5747.80 of the
Revised Code for losses on loans made to the Ohio venture capital
program under sections 150.01 to 150.10 of the Revised Code;
(40) The refundable motion picture production credit under
section 5747.66 of the Revised Code;
(41) The refundable credit for rental property energy
efficiency improvements under section 5747.85 of the Revised Code.
(B) For any credit, except the refundable credits enumerated
in this section and the credit granted under division (I) of
section 5747.08 of the Revised Code, the amount of the credit for
a taxable year shall not exceed the tax due after allowing for any
other credit that precedes it in the order required under this
section. Any excess amount of a particular credit may be carried
forward if authorized under the section creating that credit.
Nothing in this chapter shall be construed to allow a taxpayer to
claim, directly or indirectly, a credit more than once for a
taxable year.
Section 2. That existing section 5747.98 of the Revised Code
is hereby repealed.
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