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H. B. No. 84 As IntroducedAs Introduced
130th General Assembly | Regular Session | 2013-2014 |
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Representatives Stinziano, Grossman
Cosponsors:
Representatives Antonio, Mallory, Pillich, Reece
A BILL
To amend section 5747.98 and to enact section 5747.78
of the Revised Code to authorize a nonrefundable
income tax credit for the purchase or construction
of an accessible home or for the renovation of a
home to improve its accessibility.
BE IT ENACTED BY THE GENERAL ASSEMBLY OF THE STATE OF OHIO:
Section 1. That section 5747.98 be amended and section
5747.78 of the Revised Code be enacted to read as follows:
Sec. 5747.78. (A)(1) A nonrefundable credit may be claimed
against the tax imposed by section 5747.02 of the Revised Code by
a taxpayer that renovates the taxpayer's existing residence,
provided that the renovation is designed to improve accessibility
and provide universal visitability in accordance with guidelines
established by the development services agency. The amount of the
credit shall equal fifty per cent of the total cost of the
renovation, not to exceed five thousand dollars for the renovation
of each existing residence.
(2) A nonrefundable credit may be claimed against the tax
imposed by section 5747.02 of the Revised Code by a taxpayer that
purchases or constructs a new residence or by a contractor that
incurs costs in constructing a new residential structure, provided
that the new residence or residential structure includes designs
that will provide accessibility and universal visitability in
accordance with guidelines established by the development services
agency. The amount of the credit shall equal the purchase price of
the new residence or the costs incurred in constructing the new
residence or residential structure, not to exceed five thousand
dollars for the purchase or construction of each new residence or
residential structure. As used in this section, "purchase of a new
residence" means a transaction involving the first sale of a
residence to a purchaser who intends to reside in the residence.
(B) A taxpayer may not claim a credit allowed under this
section for the purchase, construction, or renovation of
residential rental property.
(C)(1) As used in this division:
(a) "Total annual credit limit" means the total amount of all
credits that may be authorized under this section for a calendar
year. The total annual credit limit shall equal three hundred
thousand dollars.
(b) "Transaction-specific credit limit" means the total
amount of all credits that may be authorized under either division
(A)(1) or (2) of this section for a calendar year. The
transaction-specific credit limit for credits authorized under
division (A)(1) of this section shall equal two hundred thousand
dollars. The transaction-specific credit limit for credits
authorized under division (A)(2) of this section shall equal one
hundred thousand dollars.
(2) Eligible taxpayers shall apply for a credit allowed under
this section by submitting an application to the development
services agency. The agency shall prescribe the form of the
application. Upon receipt of an application, the agency shall
approve the application if each of the following apply:
(a) The total annual credit limit and the applicable
transaction-specific credit limit have not been reached for the
calendar year in which the application is received.
(b) The agency has not previously approved a credit
application relating to the same residence.
(c) The credit application does not relate to a transaction
between a taxpayer and a member of the taxpayer's family or
between a pass-through entity and a person that holds, directly or
indirectly, an ownership interest in the entity. As used in this
division, "family" has the same meaning as in section 5747.011 of
the Revised Code.
(D) A taxpayer shall claim a credit authorized under division
(C) of this section in the order required under section 5747.98 of
the Revised Code. Any credit amount in excess of the tax due under
this chapter after allowing for any other nonrefundable credits
that precede the credit in the order specified under that section
may be carried forward for seven taxable years, but the amount of
the excess credit allowed in any such year shall be deducted from
the balance carried forward to the next year. If the taxpayer is a
direct or indirect investor in a pass-through entity that has
engaged in a construction project under this section, the taxpayer
may claim its proportionate or distributive share of the credit
allowed under this section.
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 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 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 home accessibility credit under section 5747.78 of
the Revised Code;
(34) The refundable credit for rehabilitating a historic
building under section 5747.76 of the Revised Code;
(34)(35) The refundable jobs creation credit or job retention
credit under division (A) of section 5747.058 of the Revised Code;
(35)(36) The refundable credit for taxes paid by a qualifying
entity granted under section 5747.059 of the Revised Code;
(36)(37) 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)(38) 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;
(38)(39) The refundable motion picture production credit
under section 5747.66 of the Revised Code.
(39)(40) The refundable credit for financial institution
taxes paid by a pass-through entity granted under section 5747.65
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.
Section 3. The amendment or enactment by this act of
sections 5747.78 and 5747.98 of the Revised Code shall apply to
taxable years beginning on or after January 1, 2013.
Section 4. Section 5747.98 of the Revised Code is presented
in this act as a composite of the section as amended by both Am.
Sub. H.B. 386 and Am. Sub. H.B. 510 of the 129th General Assembly.
The General Assembly, applying the principle stated in division
(B) of section 1.52 of the Revised Code that amendments are to be
harmonized if reasonably capable of simultaneous operation, finds
that the composite is the resulting version of the section in
effect prior to the effective date of the section as presented in
this act.
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