The bill introduces a refundable tax credit for employers who purchase group health benefit plans that cover basic health care services for their resident employees. It establishes new sections in the Revised Code, specifically 5725.39, 5726.62, 5727.242, 5727.301, 5729.22, 5736.51, 5747.74, and 5751.56, which outline the eligibility criteria and set the credit amount at one and three-tenths percent of the premiums paid by the employer. The bill also specifies that no credit can be claimed for premiums that are already the basis for credits under other sections of the Revised Code.

Additionally, the bill amends existing sections 5725.98, 5726.98, 5729.98, 5747.98, and 5751.98 to incorporate the new refundable credit into the order of credits for tax liability calculations, ensuring proper integration into the existing framework. It also repeals the aforementioned sections to streamline the claiming process for the new credits. The enactment of these provisions applies to premiums paid on or after the bill's effective date, aiming to incentivize employers to provide health insurance coverage and enhance access to basic health care services for employees.

Statutes affected:
As Introduced: 5725.98, 5726.98, 5729.98, 5747.98, 5751.98