To amend sections 5725.98, 5726.98, 5729.98, 5747.98, and 5751.98 and to enact sections 122.155, 122.156, 122.157, 122.158, 122.159, 5725.191, 5726.58, 5727.242, 5727.43, 5727.812, 5729.081, 5747.052, and 5751.54 of the Revised Code to authorize tax credits for contributions of money to economic and infrastructure development projects undertaken by local governments and nonprofit corporations.

Section 1. That sections 5725.98, 5726.98, 5729.98, 5747.98, and 5751.98 be amended and sections 122.155, 122.156, 122.157, 122.158, 122.159, 5725.191, 5726.58, 5727.242, 5727.43, 5727.812, 5729.081, 5747.052, and 5751.54 of the Revised Code be enacted to read as follows:

Sec. 122.155. As used in sections 122.155 to 122.159 of the Revised Code:

(A) "Approval date" means the date on which the development services agency issues notice of approval to a community development organization and a contributor for a catalytic project contribution proposal submitted under section 122.156 of the Revised Code.

(B) "Catalytic project" means an economic development project or activity undertaken by a community development organization that the community economic development organization predicts will induce sustainable private investment in one or more local units of government. "Catalytic project" includes construction of buildings, infrastructure improvements, central business district redevelopment, land reutilization, production of housing, and microenterprise development.

(C) "Catalytic project contribution" means a transfer of money by a contributor to a community development organization for the purpose of funding a catalytic project with no expectation of repayment or other compensation. Taxes, fees, dues, campaign contributions, and payments made for lobbying purposes do not qualify as catalytic project contributions.

(D) "Catalytic project contribution proposal" means a written document submitted by a community development organization under section 122.156 of the Revised Code proposing a catalytic project.

(E) "Community development organization" means an entity that meets any of the following sets of criteria on the approval date:

(1) The entity is a local unit of government or an economic development corporation designated by such an entity under section 1724.10 of the Revised Code, undertaking or planning to undertake a catalytic project. If a local unit of government is in fiscal emergency as determined by the auditor of state under section 118.04 of the Revised Code, it or any economic development corporation designated by it does not qualify as a community development organization.

(2) The entity is a private corporation established as a nonprofit corporation under the laws of this state that is exempt from federal income taxation under section 501(c)(3) of the "Internal Revenue Code of 1986," 100 Stat. 2085, 26 U.S.C. 501(c)(3), the primary purpose of which is to administer a catalytic project. After January 1, 2015, no private corporation shall qualify as a community development organization unless the corporation is first certified by the development services agency under section 122.159 of the Revised Code.

(F) "Contributor" means a corporation for profit or a pass-through entity as defined in section 5733.04 of the Revised Code.

(G) "Microenterprise development" means providing funds to assist the development of local for-profit businesses with fewer than five employees, at least one of whom owns the entire business.

(H) "Money" means United States currency, or a check, draft, or cashier's check for United States currency, payable on demand and drawn on a financial institution.

(I) "Rural catalytic project" means a catalytic project in which more than fifty per cent of the total expenditures for the entire project are utilized to benefit one or more counties each of which has a population of less than one hundred twenty-five thousand according to the most recent decennial census.

(J) "Urban catalytic project" means any catalytic project that is not a rural catalytic project.

Sec. 122.156. (A)(1) A community development organization may apply for a tax credit certificate under this section on behalf of a contributor that proposes to make a catalytic project contribution of at least five thousand dollars by submitting a catalytic project contribution proposal to the development services agency. The proposal shall include the following:

(a) The name, address, and telephone number of each contributor and a statement signed by an officer, agent, or other person legally authorized to bind the contributor indicating the amount of the proposed catalytic project contribution;

(b) The name, address, and telephone number of the community development organization undertaking the catalytic project;

(c) A catalytic project plan describing the purpose of and the procedure for implementing the catalytic project. The plan shall include a description of the catalytic project, an estimate of the total cost of the project, a list of the local units of government that will benefit from the project, designation of the project as either a rural catalytic project or an urban catalytic project, and the predicted economic impact of the catalytic project on each benefiting local unit of government.

(2) The agency shall make one of the following determinations within thirty days after receiving a proposal:

(a) Approve the entire proposed contribution;

(b) Approve a contribution of less than the proposed contribution but not less than five thousand dollars;

(c) Disapprove the entire proposed contribution.

(3) The agency's determination shall be based on the potential of the catalytic project to induce further sustainable private investment in the benefiting local units of government, the need for economic development in the benefiting local units of government, and any other factor prescribed by the agency.

(4) The agency's determination is final and may not be appealed for any reason. A community development organization may submit a new or amended catalytic project contribution proposal at any time after receiving notice under division (B) of this section, and may submit multiple proposals.

(B) The development services agency shall send written notice of its determination under division (A) of this section to the community development organization that submitted the catalytic project contribution proposal and each contributor proposing the catalytic project contribution. A contributor may make an approved catalytic project contribution at any time on or after the approval date.

(1) If the agency approves the entire proposed catalytic project contribution, the notice shall include confirmation of the amount of the approved contribution, an estimate of the amount of the tax credit, and instructions for submitting application fees due under division (D) of this section.

(2) If the agency approves a contribution less than the proposed contribution, the notice shall include the amount of the approved contribution, the reason the approved contribution is less than the proposed contribution, an estimate of the amount of the tax credit, and instructions for submitting application fees due under division (D) of this section.

(3) If the agency disapproves the entire proposed contribution, the notice shall include the reasons the proposed contribution was not approved and may incorporate suggestions for changes to the catalytic project contribution proposal.

(C) The estimate of the tax credit amount required in divisions (B)(1) and (2) of this section shall be calculated as follows:

(1) If the catalytic project contribution proposal indicates that the catalytic project contribution will fund a rural catalytic project, the estimate shall equal sixty per cent of the approved catalytic project contribution.

(2) If the catalytic project contribution proposal indicates that the catalytic project contribution will fund an urban catalytic project, the estimate shall equal fifty per cent of the approved catalytic project contribution.

(D)(1) The development services agency shall require payment of an application fee not to exceed ten per cent of the amount of the tax credit estimate calculated under division (C) of this section for each approved catalytic project contribution proposal. The application fee may be paid by the community development organization, the contributor, or any other person. No portion of a catalytic project contribution may be utilized to pay an application fee under this section. Payment of the application fee shall not be the basis of a tax credit granted under any other section of the Revised Code. Proceeds from the application fee shall be used to defray the agency's costs of administering sections 122.155 to 122.159 of the Revised Code. If the application fee is not paid on or before the thirtieth day following the approval date, approval of the catalytic project contribution proposal shall be revoked. The agency shall not be required to send notice of revocation except under the circumstance described in division (D)(2) of this section.

(2) If the agency receives an application fee more than thirty days after the approval date, the agency shall return the application fee and notify the community development organization and the contributor that approval has been revoked.

(3) The agency shall not issue a tax credit certificate under section 122.157 of the Revised Code before receiving full payment of the application fee due under this section. An application fee received by the agency shall not be refunded except under the circumstance described in division (D)(2) of this section.

(E) The development services agency shall not approve a catalytic project contribution of less than five thousand dollars. The amount of a catalytic project contribution for which a tax credit may be allowed shall not exceed five hundred thousand dollars. The sum of all tax credit estimates issued under division (B) of this section for contributions to any single catalytic project shall not exceed five hundred thousand dollars. The development services agency shall not approve any catalytic project contribution before the first day of January of the calendar year immediately following the effective date of ...B... of the 130th general assembly or after the thirty-first day of December of the fifth calendar year following such effective date.

The sum of all tax credit estimates issued in a calendar year under division (B) of this section shall not exceed the sum of five million dollars plus the residual credit amount for the preceding calendar year calculated under division (E) of section 122.157 of the Revised Code. The sum of all tax credit estimates issued before the first day of July in any calendar year under division (B) of this section for contributions funding urban catalytic projects shall not exceed the sum of three million five hundred thousand dollars plus seventy per cent of the residual credit amount for the preceding calendar year calculated under division (E) of section 122.157 of the Revised Code.

Sec. 122.157. (A)(1) The development services agency shall not issue a tax credit certificate under this section unless, within two years after the approval date, the agency receives a written project completion report prepared by the community development organization that received a catalytic project contribution approved under section 122.156 of the Revised Code. The report shall certify all of the following:

(a) That the catalytic project is fully completed;

(b) The total amount expended by the community development organization on the catalytic project;

(c) The sum of all catalytic project contributions received by the community development organization to fund the catalytic project;

(d) A comprehensive list of any differences between the completed catalytic project and the catalytic project plan submitted with the catalytic project contribution proposal;

(e) A monetary estimate of how the differences described in division (A)(1)(d) of this section affect the economic impact of the catalytic project projected in the catalytic project contribution proposal.

(2) After the agency receives a project completion report that meets the requirements of division (A)(1) of this section, the agency shall issue a tax credit certificate to the contributor that made the approved catalytic project contribution. The tax credit certificate shall indicate that the contributor is allowed a tax credit equal to an amount calculated as follows:

(a) If the project completion report indicates that the contribution funded a rural catalytic project, the tax credit equals sixty per cent of the adjusted catalytic project contribution determined under division (B) of this section.

(b) If the project completion report indicates that the contribution funded an urban catalytic project the tax credit equals fifty per cent of the adjusted catalytic project contribution determined under division (B) of this section.

(B) The adjusted catalytic project contribution equals the catalytic project contribution approved by the development services agency, adjusted by the agency as follows:

(1) Subtract any amount reimbursed to the contributor by the community development organization;

(2) Subtract the value of any nonmonetary compensation provided to the contributor by the community development organization;

(3) If the total expenditures of the community development organization on the catalytic project were less than the sum of all catalytic project contributions approved by the development services agency and received by the organization to fund the catalytic project, determine the difference and subtract an amount equal to the difference multiplied by a fraction, the numerator of which is the contributor's approved catalytic project contribution and the denominator of which is the sum of all approved catalytic project contributions received by the community development organization to fund the catalytic project;

(4) If the project completion report indicates there are differences between the completed catalytic project and the catalytic project plan that result in a reduction in the predicted economic impact, subtract an amount commensurate with such reduction as determined by the agency.

(C) A contributor that is issued a tax credit certificate under this section may claim one of the nonrefundable tax credits authorized under section 5725.191, 5726.58, 5727.242, 5727.43, 5727.812, 5729.081, 5747.052, or 5751.54 of the Revised Code. A tax credit certificate issued to a contributor under this section may not be transferred by that contributor to any other person.

(D) The director of development services shall develop the form of the tax credit certificate and shall report to the tax commissioner any information requested by the commissioner concerning tax credit certificates issued under this section. A contributor shall present the certificate to the tax commissioner upon the commissioner's request.

(E) Annually, before the seventh day of January, the development services agency shall calculate the residual credit amount for the preceding calendar year. The residual credit amount equals the sum of the following:

(1) All tax credit estimates for which approval is revoked for failure to timely pay the application fee required under division (D)(1) of section 122.156 of the Revised Code;

(2) All tax credit estimates for which more than two years has passed since the approval date and no project completion report has been submitted to the development services agency under section 122.157 of the Revised Code;

(3) The difference between the amount issued in tax credit certificates under this section and the corresponding tax credit estimates.

(F) Annually, before the seventh day of January, the development services agency shall conduct a cost-benefit analysis of each catalytic project to which a catalytic project contribution approved by the agency was made and of the tax credit as a whole considering all catalytic project contribution proposals approved under section 122.156 of the Revised Code. The agency shall provide copies of the cost-benefit analysis to the governor, the speaker and minority leader of the house of representatives, and the president and minority leader of the senate. Copies of the cost-benefit analysis shall be made available to contributors, community development organizations, and other members of the public upon request.

Sec. 122.158. If the development services agency receives information alleging that a community development organization or a contributor that was issued a tax credit certificate under section 122.157 of the Revised Code presented or contributed to the presentation of false information to the agency in connection with obtaining the certificate, the agency shall send written notice to the community development organization or the contributor that if the allegation is found to be true the community development organization or the contributor may be penalized as provided in this section. After giving the community development organization or the contributor an opportunity to be heard on the allegation, the agency shall determine if the community development organization or the contributor presented or contributed to the presentation of false information in connection with obtaining a tax credit certificate.

If the agency determines a contributor submitted or contributed to the submission of false information, it may revoke any remaining tax credit available to the contributor. The agency shall send written notice of the revocation to the contributor and the tax commissioner. The tax commissioner may make an assessment against the contributor to recapture any amount of tax credit that the contributor already has claimed. The time limitations on assessments under the laws of the particular tax against which the contributor claimed the credit do not apply to an assessment under this section.

If the agency determines a community development organization submitted or contributed to the submission of false information, the agency shall not approve any catalytic project contribution proposal submitted by the community development organization following the date of the agency's determination.

Sec. 122.159. (A) A nonprofit corporation seeking certification as a community development organization may apply to the development services agency in the form and manner prescribed by the agency. The application shall include a description of the catalytic project being administered or proposed, the local units of government that will benefit from the project, the estimated economic impact of the project on the benefiting local units of government, the estimated date of completion of the project, and any other information required by the agency.

(B) The development services agency shall determine whether to certify the nonprofit corporation as a community development organization and notify the corporation of the agency's determination within thirty days after receiving an application under division (A) of this section. If the agency determines that an applicant does not qualify as a community development organization, the notice shall include the reasons for such determination.

(C) Certification under this section remains valid for two years after the date the notice of the determination is issued. A certified community development organization may apply to the development services agency to renew certification for one additional two-year period by submitting a new application under division (A) of this section at least thirty days before the first certification expires.

(D) The development services agency shall maintain a list of the nonprofit corporations that have been certified as community development organizations. The agency shall furnish copies of the list to a member of the public upon request.

(E) The development services agency does not assume any responsibility for the accuracy or truthfulness of information furnished by a community development organization or its agents. A contributor proposing to make a catalytic project contribution to such an organization is solely responsible for due diligence in verifying information submitted by the organization. The agency is not liable for any action resulting from its provision of such information to contributors in accordance with sections 122.155 to 122.159 of the Revised Code.

Sec. 5725.191. Upon the issuance of a tax credit certificate by the development services agency under section 122.157 of the Revised Code, a nonrefundable credit may be claimed against the tax imposed on a domestic insurance company under section 5725.18 of the Revised Code. The credit shall be claimed for the calendar year in which the certificate was issued by the agency and in the order required under section 5725.98 of the Revised Code.

If the credit exceeds the tax otherwise due under section 5725.18 of the Revised Code, the excess shall be allowed as a credit in each of the ensuing five years, but the amount of any excess credit allowed in an ensuing year shall be deducted from the balance carried forward to the next year.

Sec. 5725.98. (A) To provide a uniform procedure for calculating the amount of tax imposed by section 5725.18 of the Revised Code that is due under this chapter, a taxpayer shall claim any credits and offsets against tax liability to which it is entitled in the following order:

(1) The credit for an insurance company or insurance company group under section 5729.031 of the Revised Code;

(2) The credit for eligible employee training costs under section 5725.31 of the Revised Code;

(3) The credit for purchasers of qualified low-income community investments under section 5725.33 of the Revised Code;

(4) The nonrefundable job retention credit under division (B)(1) of section 122.171 of the Revised Code;

(5) The credit for contributions to catalytic projects under section 5725.191 of the Revised Code;

(6) The offset of assessments by the Ohio life and health insurance guaranty association permitted by section 3956.20 of the Revised Code;

(6)(7) The refundable credit for rehabilitating a historic building under section 5725.34 of the Revised Code.

(7)(8) The refundable credit for Ohio job retention under division (B)(2) or (3) of section 122.171 of the Revised Code;

(8)(9) The refundable credit for Ohio job creation under section 5725.32 of the Revised Code;

(9)(10) The refundable credit under section 5725.19 of the Revised Code for losses on loans made under the Ohio venture capital program under sections 150.01 to 150.10 of the Revised Code.

(B) For any credit except the refundable credits enumerated in this section, 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.

Sec. 5726.58. Upon the issuance of a tax credit certificate by the development services agency under section 122.157 of the Revised Code, a nonrefundable tax credit may be claimed against the tax imposed by section 5726.02 of the Revised Code. The credit shall be claimed for the taxable year in which the certificate is issued by the agency and in the order required under section 5726.98 of the Revised Code. If the credit exceeds the tax otherwise due under section 5726.02 of the Revised Code after deducting all other credits in that order, the excess shall be allowed as a credit in each of the ensuing five tax years, but the amount of any excess credit allowed in an ensuing tax year shall be deducted from the balance carried forward to the next tax year.

Sec. 5726.98. (A) To provide a uniform procedure for calculating the amount of tax due under section 5726.02 of the Revised Code, a taxpayer shall claim any credits to which the taxpayer is entitled under this chapter in the following order:

(1) The bank organization assessment credit under section 5726.51 of the Revised Code;

(2) The nonrefundable job retention credit under division (B) of section 5726.50 of the Revised Code;

(3) The nonrefundable credit for purchases of qualified low-income community investments under section 5726.54 of the Revised Code;

(4) The credit for contributions to catalytic projects under section 5726.58 of the Revised Code;

(5) The nonrefundable credit for qualified research expenses under section 5726.56 of the Revised Code;

(5)(6) The nonrefundable credit for qualifying dealer in intangibles taxes under section 5726.57 of the Revised Code.;

(6)(7) The refundable credit for rehabilitating an historic building under section 5726.52 of the Revised Code;

(7)(8) The refundable job retention or job creation credit under division (A) of section 5726.50 of the Revised Code;

(8)(9) The refundable credit under section 5726.53 of the Revised Code for losses on loans made under the Ohio venture capital program under sections 150.01 to 150.10 of the Revised Code;

(9)(10) The refundable motion picture production credit under section 5726.55 of the Revised Code.

(B) For any credit except the refundable credits enumerated in this section, 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.

Sec. 5727.242. Upon the issuance of a tax credit certificate by the development services agency under section 122.157 of the Revised Code, a nonrefundable tax credit may be claimed against the tax imposed on a taxpayer under section 5727.24 of the Revised Code. The credit shall be claimed on a return due under section 5727.25 of the Revised Code after the certificate is issued by the agency.

If the credit exceeds the tax otherwise due under section 5727.24 of the Revised Code, the excess shall be allowed as a credit against the tax due for each return period in the ensuing five years, but the amount of any excess credit allowed for an ensuing return period shall be deducted from the balance carried forward to the next return period.

Sec. 5727.43. Upon the issuance of a tax credit certificate by the development services agency under section 122.157 of the Revised Code, a nonrefundable tax credit may be claimed against the tax imposed by section 5727.30 of the Revised Code. The credit shall be claimed in the calendar year following the year in which the certificate is issued by the agency.

If the credit exceeds the tax otherwise due under section 5727.30 of the Revised Code, the excess shall be allowed as a credit in each of the ensuing five years, but the amount of any excess credit allowed in an ensuing year shall be deducted from the balance carried forward to the next year.

Sec. 5727.812. Upon the issuance of a tax credit certificate by the development services agency under section 122.157 of the Revised Code, a nonrefundable tax credit may be claimed against the tax imposed under section 5727.81 or 5727.811 of the Revised Code. The credit shall be claimed in the calendar year following the year in which the certificate is issued by the agency.

If the credit exceeds the tax otherwise due under section 5727.81 or 5727.811 of the Revised Code, the excess shall be allowed as a credit against the tax due for each monthly or quarterly return period in the ensuing five years, but the amount of any excess credit allowed for an ensuing return period shall be deducted from the balance carried forward to the next return period.

Sec. 5729.081. Upon the issuance of a tax credit certificate by the development services agency under section 122.157 of the Revised Code, a nonrefundable tax credit may be claimed against the tax imposed on a foreign insurance company under section 5729.03 of the Revised Code. The credit shall be claimed against the tax due for the calendar year in which the certificate is issued by the agency.

If the credit exceeds the tax otherwise due under section 5729.03 of the Revised Code, the excess shall be allowed as a credit in each of the ensuing five years, but the amount of any excess credit allowed in an ensuing year shall be deducted from the balance carried forward to the next year.

Sec. 5729.98. (A) To provide a uniform procedure for calculating the amount of tax due under this chapter, a taxpayer shall claim any credits and offsets against tax liability to which it is entitled in the following order:

(1) The credit for an insurance company or insurance company group under section 5729.031 of the Revised Code;

(2) The credit for eligible employee training costs under section 5729.07 of the Revised Code;

(3) The credit for purchases of qualified low-income community investments under section 5729.16 of the Revised Code;

(4) The nonrefundable job retention credit under division (B)(1) of section 122.171 of the Revised Code;

(5) The nonrefundable credit for contributions to catalytic projects under section 5729.081 of the Revised Code;

(6) The offset of assessments by the Ohio life and health insurance guaranty association against tax liability permitted by section 3956.20 of the Revised Code;

(6)(7) The refundable credit for rehabilitating a historic building under section 5729.17 of the Revised Code.

(7)(8) The refundable credit for Ohio job retention under division (B)(2) or (3) of section 122.171 of the Revised Code;

(8)(9) The refundable credit for Ohio job creation under section 5729.032 of the Revised Code;

(9)(10) The refundable credit under section 5729.08 of the Revised Code for losses on loans made under the Ohio venture capital program under sections 150.01 to 150.10 of the Revised Code.

(B) For any credit except the refundable credits enumerated in this section, 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.

Sec. 5747.052. A nonrefundable tax credit shall be allowed for equity owners of pass-through entities against the tax imposed by section 5747.02 of the Revised Code upon the issuance of a tax credit certificate by the development services agency under section 122.157 of the Revised Code. The credit shall be claimed for the taxable year in which the certificate was issued by the agency and in the order required under section 5747.98 of the Revised Code. Each equity owner may claim the owner's distributive or proportionate share of the credit allowed under the certificate. If the amount of the credit under this section exceeds the amount of tax otherwise due under section 5747.02 of the Revised Code after deduction of all other credits in that order, the excess shall be allowed as a credit in each of the ensuing five taxable years, but the amount of any excess credit allowed in an ensuing year shall be deducted from the balance carried forward to the next year.

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 nonrefundable credit for contributions to catalytic projects under section 5747.052 of the Revised Code;

(21) The credit for selling alternative fuel under section 5747.77 of the Revised Code;

(21)(22) 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)(23) The job training credit under section 5747.39 of the Revised Code;

(23)(24) The enterprise zone credit under section 5709.66 of the Revised Code;

(24)(25) The credit for the eligible costs associated with a voluntary action under section 5747.32 of the Revised Code;

(25)(26) The credit for employers that establish on-site child day-care centers under section 5747.35 of the Revised Code;

(26)(27) The ethanol plant investment credit under section 5747.75 of the Revised Code;

(27)(28) The credit for purchases of qualifying grape production property under section 5747.28 of the Revised Code;

(28)(29) The small business investment credit under section 5747.81 of the Revised Code;

(29)(30) The credit for research and development and technology transfer investors under section 5747.33 of the Revised Code;

(30)(31) The enterprise zone credits under section 5709.65 of the Revised Code;

(31)(32) The research and development credit under section 5747.331 of the Revised Code;

(32)(33) The credit for rehabilitating a historic building under section 5747.76 of the Revised Code;

(33)(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.

(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.

Sec. 5751.54. Upon the issuance of a tax credit certificate by the development services agency under section 122.157 of the Revised Code, a nonrefundable tax credit may be claimed against the tax imposed by section 5751.02 of the Revised Code. The credit shall be claimed for the first tax period beginning after the calendar year in which the certificate is issued by the agency and in the order required under section 5751.98 of the Revised Code. If the credit exceeds the tax otherwise due under section 5751.02 of the Revised Code for that tax period, the excess shall be allowed as a credit for tax periods in each of the ensuing five calendar years, but the amount of any excess credit allowed in an ensuing tax period shall be deducted from the balance carried forward to the next tax period.

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 contributions to catalytic projects under section 5751.54 of the Revised Code;

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

(3)(4) 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)(5) 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)(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 or job retention credit under division (A) of section 5751.50 of the Revised Code.

(B) For any credit except the refundable credits enumerated in 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 sections 5725.98, 5726.98, 5729.98, 5747.98, and 5751.98 of the Revised Code are hereby repealed.