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 specifies that qualifying employers can claim a credit of up to $50,000 for those employing fewer than fifty full-time equivalent employees, and up to $500,000 for those employing fifty or more. Additionally, it outlines the documentation requirements for taxpayers and qualifying employers to verify eligibility for the credit.

The bill also modifies the order in which taxpayers must claim various tax credits, inserting the new "assisted reproduction insurance coverage credit" under section 5747.87 into the existing list of credits. Furthermore, it repeals the existing section 5747.98, indicating a comprehensive update to the tax credit structure. The provisions of the new section will apply to taxable years ending on or after the effective date of the act.

Statutes affected:
As Introduced: 5747.98