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S. B. No. 28 As IntroducedAs Introduced
|130th General Assembly|
To amend section 5701.11 of the Revised Code to
expressly incorporate changes in the Internal
Revenue Code since December 20, 2012, into Ohio
law, and to declare an emergency.
BE IT ENACTED BY THE GENERAL ASSEMBLY OF THE STATE OF OHIO:
Section 1. That section 5701.11 of the Revised Code be
amended to read as follows:
Sec. 5701.11. The effective date to which this section
refers is the effective date of this section as amended by
472 ....B.... of the 129th 130th general assembly.
(A)(1) Except as provided under division (A)(2) or (B) of
this section, any reference in Title LVII of the Revised Code to
the Internal Revenue Code, to the Internal Revenue Code "as
amended," to other laws of the United States, or to other laws of
the United States, "as amended," means the Internal Revenue Code
or other laws of the United States as they exist on the effective
(2) This section does not apply to any reference in Title
LVII of the Revised Code to the Internal Revenue Code as of a date
certain specifying the day, month, and year, or to other laws of
the United States as of a date certain specifying the day, month,
(B)(1) For purposes of applying section 5733.04, 5745.01, or
5747.01 of the Revised Code to a taxpayer's taxable year ending
March 7, 2011 December 20, 2012, and before the effective
date, a taxpayer may irrevocably elect to incorporate the
provisions of the Internal Revenue Code or other laws of the
United States that are in effect for federal income tax purposes
for that taxable year if those provisions differ from the
provisions that, under division (A) of this section, would
otherwise apply. The filing by the taxpayer for that taxable year
of a report or return that incorporates the provisions of the
Internal Revenue Code or other laws of the United States
applicable for federal income tax purposes for that taxable year,
and that does not include any adjustments to reverse the effects
of any differences between those provisions and the provisions
that would otherwise apply, constitutes the making of an
irrevocable election under this division for that taxable year.
(2) Elections under prior versions of division (B)(1) of this
section remain in effect for the taxable years to which they
Section 2. That existing section 5701.11 of the Revised Code
is hereby repealed.
Section 3. This act is hereby declared to be an emergency
measure necessary for the immediate preservation of the public
peace, health, and safety. The reason for such necessity is to
enable taxpayers to avoid making miscellaneous adjustments on
their 2012 tax returns that increase tax liabilities. Therefore,
this act shall go into immediate effect.