The bill amends sections 5747.98 and 5751.98 of the Revised Code and introduces new sections 5747.74 and 5751.56 to create a nonrefundable tax credit for donations made to certified pregnancy resource centers and maternity homes. The new section 5747.74 details the process for claiming this tax credit, which is limited to 50% of the taxpayer's aggregate tax liability for the taxable year, with the option to carry forward any excess credit 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 establishes criteria for qualifying pregnancy resource centers, which must be tax-exempt organizations that provide essential services to pregnant women without promoting nontherapeutic abortions.

The bill also introduces provisions under section 5751.02, allowing taxpayers to claim a credit against their tax liability, capped at 50% of the applicant's tax liability before applying other credits, with excess credits carry-forward options similar to those in section 5747.74. The total amount of tax credits approved in a calendar year is limited to $10 million, with a maximum of $5 million allocated to any single certified center. Existing sections 5747.98 and 5751.98 are repealed to streamline the process and update the legal framework for tax credits. Overall, the legislation aims to incentivize donations to organizations supporting pregnant women and enhance the clarity and efficiency of tax credit claims.

Statutes affected:
As Introduced: 5747.98, 5751.98