The Strategic Tax Opportunities for Raising Kids (STORK) Act proposes amendments to the Ohio Revised Code, specifically targeting tax incentives to support families with conceived children and certain child care items. The bill introduces new legal language that outlines specific tax benefits aimed at alleviating the financial burden of raising children, although the exact details of these incentives are not provided. Additionally, the legislation deletes existing provisions that may conflict with the new incentives, thereby creating a more supportive tax environment for families in Ohio.

Furthermore, the bill expands the definition of "dependents" to include each child conceived through assisted reproduction, enhancing tax considerations for families. It also introduces provisions for tax deductions related to spontaneous miscarriages, allowing taxpayers to claim deductions under specific conditions. The bill clarifies various definitions and adjustments related to taxable income for estates and trusts, ensuring a comprehensive approach to tax relief and clarity for individuals and businesses affected by disasters, as well as addressing the needs of educators and families in Ohio. Overall, the STORK Act aims to modernize the tax code and provide enhanced support for families.

Statutes affected:
As Introduced: 5739.02, 5747.01, 5747.025