The bill amends sections 5747.98 and 5751.98 of the Revised Code and enacts new sections 5747.053 and 5751.55 to establish a refundable tax credit for compensation paid to skilled trades instructors. The new section 5747.053 defines key terms such as "qualified instructor," "eligible expenses," and "release time," and outlines the process for qualifying employers to apply for the tax credit based on eligible expenses incurred for instructors' release time. The credit amount is capped at $150 per hour of release time, with a total limit of $50,000 in eligible expenses per calendar year. Additionally, the tax commissioner is restricted from issuing more than $10 million in credits annually and will report on the program's impact on instructor shortages.

The bill also includes provisions for the new section 5751.55, which allows taxpayers with a tax credit certificate to claim a credit against the tax levied under section 5751.02, mirroring the structure established in section 5747.053. The existing sections 5747.98 and 5751.98 are repealed, and the amendments apply to eligible expenses incurred on or after January 1, 2027. Overall, the legislation aims to incentivize the hiring and retention of skilled trades instructors by providing financial relief to qualifying employers.

Statutes affected:
As Introduced: 5747.98, 5751.98