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H. B. No. 664 As IntroducedAs Introduced
130th General Assembly | Regular Session | 2013-2014 |
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Cosponsors:
Representatives Baker, Barborak, Beck, Budish, Cera, Derickson, Hill, Lundy, Romanchuk, Rosenberger
A BILL
To amend section 5747.98 and to enact sections
3333.92 and 5747.78 of the Revised Code to
establish the Workforce Grant Program, to
authorize an income tax credit equal to 25% of the
student loan payments a grant recipient makes per
year, and to make an appropriation.
BE IT ENACTED BY THE GENERAL ASSEMBLY OF THE STATE OF OHIO:
Section 1. That section 5747.98 be amended and sections
3333.92 and 5747.78 of the Revised Code be enacted to read as
follows:
Sec. 3333.92. (A) As used in this section, "eligible
student" means a student who is enrolled in a state institution of
higher education as defined in section 3345.011 of the Revised
Code.
(B) The workforce grant program is hereby established. Under
the program, the chancellor of the Ohio board of regents shall
award grants to eligible students who are pursuing the degrees or
certifications that are required for the jobs that are determined
to be the most in demand in this state by the department of job
and family services under section 6301.11 of the Revised Code.
(C)(1) On an annual basis, the maximum amount of a grant
awarded to an eligible student shall be five thousand dollars.
One-third of the amount of the grant shall be distributed at the
beginning of the academic year, and the remainder of the grant
shall be distributed proportionally throughout the remainder of
the academic year upon the student's successful completion of the
milestones specified in rules adopted by the chancellor under
division (D)(3) of this section.
(2) A grant may be renewed in accordance with the rules
adopted by the chancellor under division (D) of this section.
(D) The chancellor shall adopt rules regarding the operations
of the grant program, including all of the following:
(1) Application procedures;
(2) The method for selecting grant recipients, which shall
include both of the following:
(a) An assessment of an applicant's need for financial aid;
(b) An analysis of whether the degree or certification that
is being pursued by an applicant is required for one or more of
the jobs that are determined to be the most in demand in this
state by the department of job and family services under section
6301.11 of the Revised Code.
(3) Milestones that must be attained by a grant recipient in
order to receive the remainder of an annual grant under division
(C) of this section, including spending thirty to ninety days in a
workplace where the degree or certification that is being pursued
by the grant recipient is required for employment or participating
in a cooperative or internship program in a workplace where the
degree or certification that is being pursued by the grant
recipient is required for employment;
(4) Other requirements that must be completed by a grant
recipient, including both of the following:
(a) The completion of curriculum that includes skills needed
by employers;
(b) The completion of counseling regarding the proper
management of student loans.
(5) Grant renewal procedures.
(E) The chancellor shall adopt rules establishing a procedure
for distributing information to high school students and
first-year college students in this state regarding the jobs that
are determined to be the most in demand in this state by the
department of job and family services under section 6301.11 of the
Revised Code and the educational requirements for those jobs.
Sec. 5747.78. (A) As used in this section:
(1) "Eligible student loan" means a loan used to pay the
tuition and related expenses required to earn a qualifying degree
or certification from an institution of higher education as
defined in section 3345.011 of the Revised Code.
(2) "Eligible grant recipient" means a person who received a
grant under section 3333.92 of the Revised Code and who is
employed in an in-demand job.
(3) "In-demand job" means a job that is determined to be one
of the most in demand in this state by the department of job and
family services under section 6301.11 of the Revised Code.
(4) "Qualifying degree or certification" means a degree or
certification the pursuit of which qualified the eligible grant
recipient for a grant under section 3333.92 of the Revised Code.
(B) There is hereby allowed a refundable credit against the
tax imposed by section 5747.02 of the Revised Code for an eligible
grant recipient who makes payments on an eligible student loan
during the taxable year. The amount of the credit shall equal
twenty-five per cent of the amount of principal and interest paid
on the eligible student loan, excluding any such principal or
interest that is otherwise deducted or excluded in computing the
federal or Ohio adjusted gross income of the taxpayer, during the
taxable year. The credit shall be claimed in the order prescribed
by section 5747.98 of the Revised Code. If the credit exceeds the
amount of tax otherwise due for the taxable year, the excess shall
be refunded to the taxpayer.
(C) The tax commissioner may require an eligible grant
recipient to furnish any information necessary to support a claim
for credit under this section, and no credit shall be allowed
unless such information is provided.
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 earned income credit under section 5747.71 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 nonrefundable 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 small business investment credit under section
5747.81 of the Revised Code;
(29) The enterprise zone credits under section 5709.65 of the
Revised Code;
(30) The research and development credit under section
5747.331 of the Revised Code;
(31) The credit for rehabilitating a historic building under
section 5747.76 of the Revised Code;
(32) The refundable credit for rehabilitating a historic
building under section 5747.76 of the Revised Code;
(33) The refundable jobs creation credit or job retention
credit under division (A) of section 5747.058 of the Revised Code;
(34) The refundable credit for taxes paid by a qualifying
entity granted under section 5747.059 of the Revised Code;
(35) The refundable credits for taxes paid by a qualifying
pass-through entity granted under division (I) of section 5747.08
of the Revised Code;
(36) 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;
(37) The refundable motion picture production credit under
section 5747.66 of the Revised Code;
(38) The refundable credit for financial institution taxes
paid by a pass-through entity granted under section 5747.65 of the
Revised Code;
(39) The refundable credit for student loan payments made by
eligible grant recipients under section 5747.78 of the Revised
Code.
(B) For any credit, except the refundable credits enumerated
in this section and the credit granted under division (H) 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.
Section 3. All items in this section are hereby appropriated
as designated out of any moneys in the state treasury to the
credit of the designated fund. For all appropriations made in this
act, those in the first column are for fiscal year 2014 and those
in the second column are for fiscal year 2015. The appropriations
made in this act are in addition to any other appropriations made
for the FY 2014-FY 2015 biennium.
BOR BOARD OF REGENTS
GRF |
235581 |
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Workforce Grants |
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$ |
0 |
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$ |
100,000,000 |
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TOTAL GRF General Revenue Fund
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$ |
0 |
|
$ |
100,000,000 |
|
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TOTAL ALL BUDGET FUND GROUPS
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$ |
0 |
|
$ |
100,000,000 |
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Of the foregoing appropriation item 235581, Workforce Grants,
up to $500,000 in fiscal year 2015 shall be used by the Chancellor
of the Board of Regents to coordinate a statewide effort to
promote workforce grant programs.
The remainder of appropriation item 235581, Workforce Grants,
shall be used by the Chancellor of the Board of Regents to
distribute grant awards pursuant to section 3333.92 of the Revised
Code.
Section 4. Within the limits set forth in this act, the
Director of Budget and Management shall establish accounts
indicating the source and amount of funds for each appropriation
made in this act, and shall determine the form and manner in which
appropriation accounts shall be maintained. Expenditures from
appropriations contained in this act shall be accounted for as
though made in Am. Sub. H.B. 59 of the 130th General Assembly.
The appropriations made in this act are subject to all
provisions of Am. Sub. H.B. 59 of the 130th General Assembly that
are generally applicable to such appropriations.
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