§ 311-45. Tax Credit for Job Creation or Retention in Ohio.
Latest version.
The Municipality, by Ordinance, may grant a refundable or nonrefundable credit against
its tax on income to a taxpayer for the purpose of fostering job creation or job retention
in the Municipality. If a credit is granted under this section, it shall be measured
for the job creation credit as a percentage of the new income tax revenue the Municipality
derives from new employees of the taxpayer or, in the case of job retention credits,
as a percentage of the income tax revenue the Municipality derives from the retained
employees of the taxpayer. Any such credit shall be for a term not exceeding fifteen
(15) years. Before the Municipality passes an ordinance granting a credit, the Municipality
and the taxpayer shall enter into an agreement specifying all the conditions of the
credit.
