The Tithing Protection Act proposes an amendment to section 5747.01 of the Revised Code, allowing personal income tax deductions for donations made to churches. This amendment aims to provide tax relief to individuals who contribute to religious organizations, thereby encouraging charitable giving within the community. The bill specifies that these deductions will be included in the calculations for adjusted gross income, aligning with federal income tax laws. It introduces new provisions that expand the scope of allowable deductions for taxpayers, specifically targeting contributions to religious institutions, and is intended to support the financial sustainability of churches and promote tithing among Ohio residents.

Additionally, the bill makes several amendments to the Ohio Revised Code regarding tax deductions and classifications for individuals and businesses. It allows taxpayers who itemize deductions to deduct charitable contributions to churches or church associations, provided they comply with the Internal Revenue Code. The legislation also clarifies definitions related to business and nonbusiness income, outlines specific deductions for various groups, and addresses the treatment of capital gains from investments in Ohio venture capital operating companies. Furthermore, it revises definitions related to taxation, particularly concerning trusts, and establishes new criteria for what constitutes a "qualifying transfer" to a trust. Overall, the bill aims to provide clarity and structure to the taxation of trusts and enhance tax relief for taxpayers.

Statutes affected:
As Introduced: 5747.01