The bill amends section 5747.98 and enacts section 5747.87 of the Revised Code to introduce a nonrefundable income tax credit for employers who subsidize employee insurance coverage for assisted reproduction. The new section defines key terms such as "qualifying health insurance plan," "assisted reproduction," "qualifying employer," and "full-time equivalent employee." It establishes that qualifying employers can claim a tax credit of up to $50,000 for those employing fewer than fifty full-time equivalent employees, or up to $500,000 for those employing fifty or more. The bill also requires taxpayers to provide documentation to verify eligibility for the credit.

Additionally, the bill modifies the order in which taxpayers must claim credits against their aggregate tax liability under section 5747.02, inserting the new assisted reproduction insurance coverage credit into the list of credits. The existing section 5747.98 is repealed, and the new provisions will apply to taxable years ending on or after the effective date of the bill.

Statutes affected:
As Introduced: 5747.98