The bill amends sections 5747.98 and 5751.98 of the Revised Code and enacts new sections 5747.74 and 5751.56 to establish a nonrefundable tax credit for donations made to certified pregnancy resource centers and maternity homes. The new section 5747.74 allows taxpayers to claim a credit limited to 50% of their aggregate tax liability for the taxable year, with any excess credit eligible to be carried forward for up to five years. Additionally, if the taxpayer is a pass-through entity, the credit can be allocated among its equity owners. The newly enacted section 5751.56 defines key terms related to the tax credit, including the criteria for qualifying pregnancy resource centers, which must not perform or promote nontherapeutic abortions to qualify.

The bill also introduces provisions regarding the order in which various nonrefundable and refundable credits must be claimed, including those for donations to pregnancy resource centers, jobs retention, and qualified research expenses. It specifies that the credit amount is capped at 50% of the applicant's tax liability before applying any other credits, with restrictions on the amount that can be claimed in subsequent years. Furthermore, the bill repeals existing sections 5747.98 and 5751.98, streamlining the tax credit process and providing a structured approach for taxpayers to claim their eligible credits. Overall, the legislation aims to clarify and enhance the tax credit system for donations to certified centers.

Statutes affected:
As Introduced: 5747.98, 5751.98