The bill introduced in the 136th General Assembly seeks to amend several sections of the Revised Code and establish new sections to create refundable tax credits for employers who hire certain veterans, service members, and their spouses. It amends sections 5725.98, 5726.98, 5729.98, 5747.98, and 5751.98, while enacting new sections 5725.39, 5726.63, 5727.242, 5727.301, 5729.22, 5736.51, 5747.88, and 5751.55. The bill introduces the definition of "tax credit certificate" and outlines the process for claiming these credits, ensuring that any excess credit amount beyond a taxpayer's liability will be refunded.

The legislation establishes a structured order for claiming various tax credits, including the new refundable credit for hiring veterans and their spouses, which can be claimed for the year of hire and the following four years, provided the employee remains employed. It also amends the order of tax credit claims to include this new credit under section 5751.98 and repeals outdated sections of the Revised Code. The overall aim of the bill is to incentivize the hiring of veterans, thereby facilitating their transition into civilian employment and promoting their integration into the workforce.

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