To amend section 5751.98 and to enact section 5751.54 of the Revised Code to authorize a commercial activity tax credit for underserved community grocery stores.

Section 1. That section 5751.98 be amended and section 5751.54 of the Revised Code be enacted to read as follows:

Sec. 5751.54. (A) As used in this section "underserved community grocery" means a retail facility that is classified as a "supermarket and other grocery (except convenience) store" under the North American industry classification system and that is located in a census tract with below-average density of supermarkets and groceries or containing households a majority of which are low-income households.

(B) For tax periods beginning on or after January 1, 2011, a nonrefundable credit may be claimed under this chapter equal to ten per cent of the tax imposed under this chapter on the taxable gross receipts of an underserved community grocery. The taxpayer shall claim the credit in the order required under section 5751.98 of the Revised Code.

Sec. 5751.98.  (A) To provide a uniform procedure for calculating the amount of tax due under this chapter, a taxpayer shall claim any credits to which it is entitled in the following order:

(1) The nonrefundable jobs retention credit under division (B) of section 5751.50 of the Revised Code;

(2) The nonrefundable credit for qualified research expenses under division (B) of section 5751.51 of the Revised Code;

(3) The nonrefundable credit for a borrower's qualified research and development loan payments under division (B) of section 5751.52 of the Revised Code;

(4) The nonrefundable credit for calendar years 2010 to 2029 for unused net operating losses under division (B) of section 5751.53 of the Revised Code;

(5) The nonrefundable credit for underserved community groceries under section 5751.54 of the Revised Code;

(6) The refundable credit for calendar year 2030 for unused net operating losses under division (C) of section 5751.53 of the Revised Code;

(6)(7) The refundable jobs creation credit under division (A) of section 5751.50 of the Revised Code.

(B) For any credit except the credit refundable credits enumerated in division (A)(4) of this section, the amount of the credit for a tax period 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 the credit.

Section 2. That existing section 5751.98 of the Revised Code is hereby repealed.