S.B. 250
127th General Assembly
(As Introduced)
Sens. Carey, Niehaus, Gardner, Seitz, Schuring, Mumper, Austria, Harris, Padgett, Amstutz
BILL SUMMARY
· Extends the job training tax credit for an additional year, to cover training costs paid or incurred on or before December 31, 2008.
CONTENT AND OPERATION
The credit equals one-half of the average of a taxpayer's training costs paid or incurred over a three-year period, but the credit amount claimed by a taxpayer cannot exceed $1,000 per employee and cannot exceed $100,000 per year. If the credit amount exceeds the taxpayer's tax liability, the excess may be carried forward for three years following the year in which the credit was first claimed.
The total job training tax credits allowed each calendar year cannot exceed $20 million.
(R.C. 5725.31(B), 5729.07, 5733.42(B), (C), and (L), and 5747.39(B))
Under current law, the job training tax credit may be taken for training costs paid or incurred on or before December 31, 2007. The bill extends the tax credit by one year, for training costs paid or incurred on or before December 31, 2008.
HISTORY
ACTION |
DATE |
|
|
Introduced |
11-08-07 |
S0250-I-127.doc/jc