HB 529

As Introduced
136th General Assembly
   Regular Session  H. B. No. 529
       2025-2026
  Representatives Sigrist, Schmidt
    Cosponsors: Representatives Brennan, White, E., Lett, Brent, Upchurch,
  Brownlee, Hall, T., Williams
  To amend sections 5725.98, 5726.98, 5729.98,  1
  5747.98, and 5751.98 and to enact sections  2
  5725.39, 5726.63, 5727.242, 5727.301, 5729.22,  3
  5736.51, 5747.88, and 5751.55 of the Revised  4
  Code to authorize refundable tax credits for  5
  hiring certain veterans, service members, and  6
  their spouses.  7
 BE IT ENACTED BY THE GENERAL ASSEMBLY OF THE STATE OF OHIO:
     Section 1. That sections 5725.98, 5726.98, 5729.98,  8
5747.98, and 5751.98 be amended and sections 5725.39, 5726.63,  9
5727.242, 5727.301, 5729.22, 5736.51, 5747.88, and 5751.55 of  10
the Revised Code be enacted to read as follows:  11
     Sec. 5725.39. (A) As used in this section, "tax credit  12
certificate" has the same meaning as in section 5751.55 of the  13
Revised Code.  14
     (B) A domestic insurance company issued a tax credit  15
certificate authorizing the company to claim a credit against  16
the tax levied under section 5725.18 of the Revised Code may  17
claim a credit against that tax equal to the amount stated in  18
the certificate. The credit shall be claimed for the calendar  19
H. B. No. 529  Page 2
As Introduced
year preceding the year the certificate was issued and in the  20
order required by section 5725.98 of the Revised Code. Any  21
credit amount in excess of the company's tax liability, after  22
allowing for any other credits preceding the credit in that  23
order, shall be refunded to the company.  24
       Sec. 5725.98. (A) To provide a uniform procedure for  25
calculating the amount of tax imposed by section 5725.18 of the  26
Revised Code that is due under this chapter, a taxpayer shall  27
claim any credits and offsets against tax liability to which it  28
is entitled in the following order:  29
       The credit for an insurance company or insurance company  30
group under section 5729.031 of the Revised Code;  31
       The credit for eligible employee training costs under  32
section 5725.31 of the Revised Code;  33
       The credit for purchasers of qualified low-income  34
community investments under section 5725.33 of the Revised Code;  35
       The nonrefundable job retention credit under division (B)  36
of section 122.171 of the Revised Code;  37
       The nonrefundable credit for investments in rural business  38
growth funds under section 122.152 of the Revised Code;  39
       The nonrefundable Ohio low-income housing tax credit under  40
section 5725.36 of the Revised Code;  41
       The nonrefundable affordable single-family home credit  42
under section 5725.37 of the Revised Code;  43
       The nonrefundable credit for contributing capital to a  44
transformational mixed use development project under section  45
5725.35 of the Revised Code;  46
H. B. No. 529  Page 3
As Introduced
        The nonrefundable opportunity zone investment credit under  47
section 5725.38 of the Revised Code;  48
        The offset of assessments by the Ohio life and health  49
insurance guaranty association permitted by section 3956.20 of  50
the Revised Code;  51
        The refundable credit for rehabilitating a historic  52
building under section 5725.34 of the Revised Code;  53
        The refundable credit for Ohio job retention under former  54
division (B)(2) or (3) of section 122.171 of the Revised Code as  55
those divisions existed before September 29, 2015, the effective  56
date of the amendment of this section by H.B. 64 of the 131st  57
general assembly;  58
        The refundable credit for Ohio job creation under section  59
5725.32 of the Revised Code;  60
        The refundable credit under section 5725.19 of the Revised  61
Code for losses on loans made under the Ohio venture capital  62
program under sections 150.01 to 150.10 of the Revised Code;  63
        The refundable credit for hiring certain veterans, service  64
members, and their spouses under section 5725.39 of the Revised  65
Code.  66
        (B) For any credit except the refundable credits  67
enumerated in this section, the amount of the credit for a  68
taxable year shall not exceed the tax due after allowing for any  69
other credit that precedes it in the order required under this  70
section. Any excess amount of a particular credit may be carried  71
forward if authorized under the section creating that credit.  72
Nothing in this chapter shall be construed to allow a taxpayer  73
to claim, directly or indirectly, a credit more than once for a  74
taxable year.  75
H. B. No. 529  Page 4
As Introduced
       Sec. 5726.63. (A) As used in this section, "tax credit  76
certificate" has the same meaning as in section 5751.55 of the  77
Revised Code.  78
       (B) A taxpayer issued a tax credit certificate authorizing  79
the taxpayer to claim a credit against the tax levied under  80
section 5726.02 of the Revised Code may claim a credit against  81
that tax equal to the amount stated in the certificate. The  82
credit shall be claimed for the taxable year preceding the year  83
in which the certificate is issued and in the order required by  84
section 5726.98 of the Revised Code. Any credit amount in excess  85
of the taxpayer's tax liability, after allowing for any other  86
credits preceding the credit in that order, shall be refunded to  87
the taxpayer.  88
       Sec. 5726.98. (A) To provide a uniform procedure for  89
calculating the amount of tax due under section 5726.02 of the  90
Revised Code, a taxpayer shall claim any credits to which the  91
taxpayer is entitled under this chapter in the following order:  92
       The nonrefundable job retention credit under division (B)  93
of section 5726.50 of the Revised Code;  94
       The nonrefundable credit for purchases of qualified low-  95
income community investments under section 5726.54 of the  96
Revised Code;  97
       The nonrefundable credit for transformational mixed use  98
development tax credit certificate holders under section 5726.62  99
of the Revised Code;  100
       The nonrefundable credit for qualified research expenses  101
under section 5726.56 of the Revised Code;  102
       The nonrefundable credit for qualifying dealer in  103
intangibles taxes under section 5726.57 of the Revised Code;  104
H. B. No. 529  Page 5
As Introduced
        The nonrefundable Ohio low-income housing tax credit under  105
section 5726.58 of the Revised Code;  106
        The nonrefundable affordable single-family home credit  107
under section 5726.60 of the Revised Code;  108
        The nonrefundable welcome home Ohio (WHO) program credit  109
under section 122.633 of the Revised Code;  110
        The nonrefundable opportunity zone investment credit under  111
section 5726.61 of the Revised Code;  112
        The refundable credit for rehabilitating an historic  113
building under section 5726.52 of the Revised Code;  114
        The refundable job retention or job creation credit under  115
division (A) of section 5726.50 of the Revised Code;  116
        The refundable credit under section 5726.53 of the Revised  117
Code for losses on loans made under the Ohio venture capital  118
program under sections 150.01 to 150.10 of the Revised Code;  119
        The refundable motion picture and broadway theatrical  120
production credit under section 5726.55 of the Revised Code;  121
        The refundable credit for hiring certain veterans, service  122
members, and their spouses under section 5726.63 of the Revised  123
Code.  124
        (B) For any credit except the refundable credits  125
enumerated in this section, the amount of the credit for a  126
taxable year shall not exceed the tax due after allowing for any  127
other credit that precedes it in the order required under this  128
section. Any excess amount of a particular credit may be carried  129
forward if authorized under the section creating that credit.  130
Nothing in this chapter shall be construed to allow a taxpayer  131
to claim, directly or indirectly, a credit more than once for a  132
H. B. No. 529  Page 6
As Introduced
taxable year.  133
       Sec. 5727.242. (A) As used in this section:  134
       (1) "Tax credit certificate" has the same meaning as in  135
section 5751.55 of the Revised Code.  136
       (2) "Taxpayer" means any person subject to the tax levied  137
under section 5727.24 of the Revised Code.  138
       (B) A taxpayer issued a tax credit certificate authorizing  139
the taxpayer to claim a credit against the tax levied under  140
section 5727.24 of the Revised Code may claim a credit against  141
that tax equal to the amount stated in the certificate. The  142
credit shall be claimed on the first return due under section  143
5727.25 of the Revised Code after the certificate is issued and  144
after the credits authorized in sections 5727.241 and 5727.29 of  145
the Revised Code. Any credit amount in excess of the taxpayer's  146
tax liability, after allowing for any other credits preceding  147
the credit in that order, shall be refunded to the taxpayer.  148
       Sec. 5727.301. (A) As used in this section:  149
       (1) "Tax credit certificate" has the same meaning as in  150
section 5751.55 of the Revised Code.  151
       (2) "Taxpayer" means any person subject to the tax levied  152
under section 5727.30 of the Revised Code.  153
       (B) A taxpayer issued a tax credit certificate authorizing  154
the taxpayer to claim a credit against the tax levied under  155
section 5727.30 of the Revised Code may claim a credit against  156
that tax equal to the amount stated in the certificate. The  157
credit shall be claimed on the first report due under section  158
5727.31 of the Revised Code after the certificate is issued and  159
after the credit authorized in section 5727.29 of the Revised  160
H. B. No. 529  Page 7
As Introduced
Code. Any credit amount in excess of the taxpayer's tax  161
liability, after allowing for the preceding credit, shall be  162
refunded to the taxpayer.  163
       Sec. 5729.22. (A) As used in this section, "tax credit  164
certificate" has the same meaning as in section 5751.55 of the  165
Revised Code.  166
       (B) A foreign insurance company issued a tax credit  167
certificate authorizing the company to claim a credit against  168
the tax levied under section 5729.03 of the Revised Code may  169
claim a credit against that tax equal to the amount stated in  170
the certificate. The credit shall be claimed for the calendar  171
year preceding the year in which the certificate is issued and  172
in the order required by section 5729.98 of the Revised Code.  173
Any credit amount in excess of the company's tax liability,  174
after allowing for any other credits preceding the credit in  175
that order, shall be refunded to the company.  176
       (C) A foreign insurance company shall not be required to  177
pay any additional tax levied under section 5729.06 of the  178
Revised Code as a result of claiming the tax credit authorized  179
under this section.  180
       Sec. 5729.98. (A) To provide a uniform procedure for  181
calculating the amount of tax due under this chapter, a taxpayer  182
shall claim any credits and offsets against tax liability to  183
which it is entitled in the following order:  184
       The credit for an insurance company or insurance company  185
group under section 5729.031 of the Revised Code;  186
       The credit for eligible employee training costs under  187
section 5729.07 of the Revised Code;  188
       The credit for purchases of qualified low-income community  189
H. B. No. 529  Page 8
As Introduced
investments under section 5729.16 of the Revised Code;  190
       The nonrefundable job retention credit under division (B)  191
of section 122.171 of the Revised Code;  192
       The nonrefundable credit for investments in rural business  193
growth funds under section 122.152 of the Revised Code;  194
       The nonrefundable Ohio low-income housing tax credit under  195
section 5729.19 of the Revised Code;  196
       The nonrefundable affordable single-family home credit  197
under section 5729.20 of the Revised Code;  198
       The nonrefundable credit for contributing capital to a  199
transformational mixed use development project under section  200
5729.18 of the Revised Code;  201
       The nonrefundable opportunity zone investment credit under  202
section 5729.21 of the Revised Code;  203
       The offset of assessments by the Ohio life and health  204
insurance guaranty association against tax liability permitted  205
by section 3956.20 of the Revised Code;  206
       The refundable credit for rehabilitating a historic  207
building under section 5729.17 of the Revised Code;  208
       The refundable credit for Ohio job retention under former  209
division (B)(2) or (3) of section 122.171 of the Revised Code as  210
those divisions existed before September 29, 2015, the effective  211
date of the amendment of this section by H.B. 64 of the 131st  212
general assembly;  213
       The refundable credit for Ohio job creation under section  214
5729.032 of the Revised Code;  215
       The refundable credit under section 5729.08 of the Revised  216
H. B. No. 529  Page 9
As Introduced
Code for losses on loans made under the Ohio venture capital  217
program under sections 150.01 to 150.10 of the Revised Code;  218
        The refundable credit for hiring certain veterans, service  219
members, and their spouses under section 5729.22 of the Revised  220
Code.  221
        (B) For any credit except the refundable credits  222
enumerated in this section, the amount of the credit for a  223
taxable year shall not exceed the tax due after allowing for any  224
other credit that precedes it in the order required under this  225
section. Any excess amount of a particular credit may be carried  226
forward if authorized under the section creating that credit.  227
Nothing in this chapter shall be construed to allow a taxpayer  228
to claim, directly or indirectly, a credit more than once for a  229
taxable year.  230
        Sec. 5736.51. (A) As used in this section, "tax credit  231
certificate" has the same meaning as in section 5751.55 of the  232
Revised Code.  233
        (B) A taxpayer issued a tax credit certificate authorizing  234
the taxpayer to claim a credit against the tax levied under  235
section 5736.02 of the Revised Code may claim a credit against  236
that tax equal to the amount stated in the certificate. The  237
credit shall be claimed for the tax period preceding the tax  238
period in which the certificate is issued and after any credit  239
authorized in section 5736.50 of the Revised Code. Any credit  240
amount in excess of the taxpayer's tax liability shall be  241
refunded to the taxpayer.  242
        Sec. 5747.88. (A) As used in this section, "tax credit  243
certificate" has the same meaning as in section 5751.55 of the  244
Revised Code.  245
H. B. No. 529  Page 10
As Introduced
       (B) There is allowed a refundable credit against a  246
taxpayer's aggregate tax liability under section 5747.02 of the  247
Revised Code equal to the amount stated in a tax credit  248
certificate, to the extent the certificate authorizes the credit  249
to be claimed against that tax liability. The credit shall be  250
claimed for the taxable year preceding the taxable year in which  251
the certificate is issued and in the order required by section  252
5747.98 of the Revised Code. Any credit amount in excess of the  253
taxpayer's tax liability, after allowing for any other credits  254
preceding the credit in that order, shall be refunded to the  255
taxpayer.  256
       Nothing in this section limits or disallows pass-through  257
treatment of the credit if the person to which the certificate  258
is issued is a pass-through entity.  259
       Sec. 5747.98. (A) To provide a uniform procedure for  260
calculating a taxpayer's aggregate tax liability under section  261
5747.02 of the Revised Code, a taxpayer shall claim any credits  262
to which the taxpayer is entitled in the following order:  263
       Either the retirement income credit under division (B) of  264
section 5747.055 of the Revised Code or the lump sum retirement  265
income credits under divisions (C), (D), and (E) of that  266
section;  267
       Either the senior citizen credit under division (F) of  268
section 5747.055 of the Revised Code or the lump sum  269
distribution credit under division (G) of that section;  270
       The dependent care credit under section 5747.054 of the  271
Revised Code;  272
       The credit for displaced workers who pay for job training  273
under section 5747.27 of the Revised Code;  274
H. B. No. 529  Page 11
As Introduced
        The twenty-dollar personal exemption credit under section  275
5747.022 of the Revised Code;  276
        The joint filing credit under division (E) of section  277
5747.05 of the Revised Code;  278
        The earned income credit under section 5747.71 of the  279
Revised Code;  280
        The nonrefundable credit for education expenses under  281
section 5747.72 of the Revised Code;  282
        The nonrefundable credit for donations to scholarship  283
granting organizations under section 5747.73 of the Revised  284
Code;  285
        The nonrefundable credit for tuition paid to a  286
nonchartered nonpublic school under section 5747.75 of the  287
Revised Code;  288
        The nonrefundable vocational job credit under section  289
5747.057 of the Revised Code;  290
        The nonrefundable job retention credit under division (B)  291
of section 5747.058 of the Revised Code;  292
        The enterprise zone credit under section 5709.66 of the  293
Revised Code;  294
        The credit for beginning farmers who participate in a  295
financial management program under division (B) of section  296
5747.77 of the Revised Code;  297
        The credit for commercial vehicle operator training  298
expenses under section 5747.82 of the Revised Code;  299
        The nonrefundable welcome home Ohio (WHO) program credit  300
under section 122.633 of the Revised Code;  301
H. B. No. 529  Page 12
As Introduced
       The nonrefundable credit for transformational mixed use  302
development tax credit certificate holders under section 5747.87  303
of the Revised Code;  304
       The credit for selling or renting agricultural assets to  305
beginning farmers under division (A) of section 5747.77 of the  306
Revised Code;  307
       The credit for purchases of qualifying grape production  308
property under section 5747.28 of the Revised Code;  309
       The small business investment credit under section 5747.81  310
of the Revised Code;  311
       The nonrefundable lead abatement credit under section  312
5747.26 of the Revised Code;  313
       The opportunity zone investment credit under section  314
5747.86 of the Revised Code;  315
       The enterprise zone credits under section 5709.65 of the  316
Revised Code;  317
       The research and development credit under section 5747.331  318
of the Revised Code;  319
       The credit for rehabilitating a historic building under  320
section 5747.76 of the Revised Code;  321
       The nonrefundable Ohio low-income housing tax credit under  322
section 5747.83 of the Revised Code;  323
       The nonrefundable affordable single-family home credit  324
under section 5747.84 of the Revised Code;  325
       The nonresident credit under division (A) of section  326
5747.05 of the Revised Code;  327
       The credit for a resident's out-of-state income under  328
H. B. No. 529  Page 13
As Introduced
division (B) of section 5747.05 of the Revised Code;  329
        The refundable motion picture and broadway theatrical  330
production credit under section 5747.66 of the Revised Code;  331
        The refundable jobs creation credit or job retention  332
credit under division (A) of section 5747.058 of the Revised  333
Code;  334
        The refundable credit for taxes paid by a qualifying  335
entity granted under section 5747.059 of the Revised Code;  336
        The refundable credits for taxes paid by a qualifying  337
pass-through entity granted under division (I) of section  338
5747.08 of the Revised Code;  339
        The refundable credit under section 5747.80 of the Revised  340
Code for losses on loans made to the Ohio venture capital  341
program under sections 150.01 to 150.10 of the Revised Code;  342
        The refundable credit for rehabilitating a historic  343
building under section 5747.76 of the Revised Code;  344
        The refundable credit under section 5747.39 of the Revised  345
Code for taxes levied under section 5747.38 of the Revised Code  346
paid by an electing pass-through entity;  347
        The refundable credit for hiring certain veterans, service  348
members, and their spouses under section 5747.88 of the Revised  349
Code.  350
        (B) For any credit, except the refundable credits  351
enumerated in this section and the credit granted under division  352
(H) of section 5747.08 of the Revised Code, the amount of the  353
credit for a taxable year shall not exceed the taxpayer's  354
aggregate amount of tax due under section 5747.02 of the Revised  355
Code, after allowing for any other credit that precedes it in  356
H. B. No. 529  Page 14
As Introduced
the order required under this section. Any excess amount of a  357
particular credit may be carried forward if authorized under the  358
section creating that credit. Nothing in this chapter shall be  359
construed to allow a taxpayer to claim, directly or indirectly,  360
a credit more than once for a taxable year.  361
       Sec. 5751.55. (A) As used in this section:  362
       (1) "Qualifying employee" means a veteran, disabled  363
veteran, or a member of the national guard or the reserve  364
components of the armed forces of the United States, or the  365
spouse of any such person.  366
       (2) "Credit period" means the calendar year for which a  367
credit is approved under division (B)(1) of this section, and  368
the following four calendar years, subject to division (B)(2) of  369
this section.  370
       (3) "Tax credit certificate" means the certificate issued  371
by the tax commissioner under division (B)(1) or (2) of this  372
section.  373
       (B)(1) An employer who employs a qualifying employee may  374
submit an application to the tax commissioner for a tax credit  375
authorized by this section. The application shall be made on a  376
form and in a manner that the commissioner shall prescribe. The  377
application shall state the qualifying employee's hiring date  378
and, if applicable, termination date, the total hours the  379
qualifying employee worked in the preceding calendar year, the  380
tax against which the credit would be claimed, and any other  381
information the commissioner may require. An employer shall  382
submit the application on or before the fifteenth day of  383
January.  384
       The commissioner shall evaluate applications in the order  385
H. B. No. 529  Page 15
As Introduced
in which they are received and issue a determination to an  386
applicant no earlier than the fifteenth day of January. If the  387
commissioner denies an application, the determination shall  388
state the reason for the denial. If the commissioner approves an  389
application, the determination shall include a certificate  390
listing the amount of credit that the applicant may claim and  391
the tax against which it may be claimed.  392
       (2) A tax credit approved under division (B)(1) of this  393
section may be claimed for the calendar year in which the credit  394
is approved and for the four following calendar years, according  395
to the number of hours the qualifying employee works in each  396
such year and provided the qualifying employee remains employed  397
with the applicant in each year and the employer submits  398
continuing applications as required in division (B)(2) of this  399
section.  400
       Not later than the first day of the December in the year  401
in which a tax credit certificate is issued under division (B)  402
(1) of this section, and the next three first days of December,  403
the commissioner shall furnish, by ordinary mail, a continuing  404
application to each person approved for the credit under that  405
division. The continuing application shall be used to report  406
whether the qualifying employee qualifies the employer for the  407
credit because the employee is a disabled veteran or another  408
type of qualifying employee, the total hours the qualifying  409
employee worked in the preceding year, and the tax against which  410
the credit is sought, if different from the initial application.  411
The continuing application shall be submitted to the  412
commissioner not later than the thirty-first day of December.  413
       The commissioner shall issue a determination to an  414
applicant after the thirty-first day of December, but before the  415
H. B. No. 529  Page 16
As Introduced
fifteenth day of the following January. If the commissioner  416
denies an application, the determination shall state the reason  417
for the denial. If the commissioner approves an application, the  418
determination shall include a certificate listing the amount of  419
credit that the applicant may claim and the tax against which it  420
may be claimed.  421
       (3) The commissioner may not approve more than one million  422
dollars in tax credits for a calendar year under divisions (B)  423
(1) and (2) of this section. The commissioner shall give  424
priority to approving continuing applications under division (B)  425
(2) over initial applications under division (B)(1) of this  426
section when applying that limit.  427
       (C) The amount of a credit authorized by this section  428
shall be calculated as follows, subject to reduction under  429
division (C)(3) of this section:  430
       (1) For each qualifying employee who is a disabled veteran  431
and who is employed by the applicant for at least one hundred  432
eighty days in the preceding year, the amount of the credit for  433
each year of the credit period shall equal seven hundred fifty  434
dollars, if employed by the applicant for any period in the  435
preceding year on a full-time basis, or three hundred seventy-  436
five dollars, if otherwise employed by the applicant. The credit  437
amount for a qualifying employee that is not a disabled veteran  438
for the initial credit year, but in a later year in the credit  439
period qualifies as a disabled veteran, shall be calculated  440
under division (C)(1) instead of division (C)(2) of this section  441
for each of those later years remaining in the credit period.  442
       (2) For any other qualifying employee who is employed by  443
the applicant for at least one hundred eighty days in the  444
preceding year, one of the following:  445
H. B. No. 529  Page 17
As Introduced
       (a) For the initial year of the credit period, five  446
hundred dollars if the employee is employed by the applicant for  447
any period in the preceding year on a full-time basis or two  448
hundred fifty dollars if the employee is otherwise employed by  449
the applicant;  450
       (b) For any other year of the credit period, two hundred  451
dollars if the employee is employed by the applicant for any  452
period in the preceding year on a full-time basis or one hundred  453
dollars if the employee is otherwise employed by the applicant.  454
       (3) If a qualifying employee is employed by the applicant  455
for fewer than one hundred eighty days of the preceding year,  456
then the amount of the credit calculated under division (C)(1)  457
or (2) of this section shall equal the product of the otherwise  458
applicable dollar amount under that division and the percentage  459
of the days of the year in which the employee was employed by  460
the applicant.  461
       (D) For each year of a credit period, an employer may  462
claim a refundable credit against the tax imposed under section  463
5725.18, 5726.02, 5727.24, 5727.30, 5729.03, 5736.02, 5747.02,  464
or 5751.02 of the Revised Code, as authorized by the tax credit  465
certificate, equal to the amount listed on that certificate. The  466
credit shall be claimed in the manner prescribed by division (E)  467
of this section or by section 5725.39, 5726.63, 5727.242,  468
5727.301, 5729.22, 5736.51, or 5747.88 of the Revised Code, as  469
applicable.  470
       (E) A taxpayer issued a tax credit certificate authorizing  471
the taxpayer to claim a credit against the tax levied under  472
section 5751.02 of the Revised Code may claim a credit against  473
that tax equal to the amount stated in the certificate. The  474
credit shall be claimed for the tax period preceding the tax  475
H. B. No. 529  Page 18
As Introduced
period in which the certificate is issued and in the order  476
required by section 5751.98 of the Revised Code. Any credit  477
amount in excess of the taxpayer's tax liability, after allowing  478
for any other credits preceding the credit in that order, shall  479
be refunded to the taxpayer.  480
       (F)(1) The tax commissioner shall adopt any rules  481
necessary to implement this section. Such rules shall include  482
all of the following:  483
       (a) Criteria to evaluate whether an employee is a  484
qualifying employee;  485
       (b) Criteria to evaluate whether a qualifying employee was  486
employed full-time or less than full-time in the preceding year;  487
       (c) Supplementary definitions as may be necessary to  488
administer this section.  489
       (2) Notwithstanding any provision of section 121.95 of the  490
Revised Code to the contrary, a regulatory restriction contained  491
in a rule adopted under this section is not subject to sections  492
121.95 to 121.953 of the Revised Code.  493
       Sec. 5751.98. (A) To provide a uniform procedure for  494
calculating the amount of tax due under this chapter, a taxpayer  495
shall claim any credits to which it is entitled in the following  496
order:  497
       The nonrefundable jobs retention credit under division (B)  498
of section 5751.50 of the Revised Code;  499
       The nonrefundable credit for qualified research expenses  500
under division (B) of section 5751.51 of the Revised Code;  501
       The nonrefundable credit for a borrower's qualified  502
research and development loan payments under division (B) of  503
H. B. No. 529  Page 19
As Introduced
section 5751.52 of the Revised Code;  504
        The nonrefundable credit for unused net operating losses  505
under section 5751.53 of the Revised Code;  506
        The refundable motion picture and broadway theatrical  507
production credit under section 5751.54 of the Revised Code;  508
        The refundable jobs creation credit or job retention  509
credit under division (A) of section 5751.50 of the Revised  510
Code;  511
        The refundable credit for hiring certain veterans, service  512
members, and their spouses under section 5751.55 of the Revised  513
Code.  514
        (B) For any credit except the refundable credits  515
enumerated in this section, the amount of the credit for a tax  516
period shall not exceed the tax due after allowing for any other  517
credit that precedes it in the order required under this  518
section. Any excess amount of a particular credit may be carried  519
forward if authorized under the section creating the credit.  520
        Section 2. That existing sections 5725.98, 5726.98,  521
5729.98, 5747.98, and 5751.98 of the Revised Code are hereby  522
repealed.  523
        Section 3. The enactment by this act of sections 5725.39,  524
5726.63, 5727.242, 5727.301, 5729.22, 5736.51, 5747.88, and  525
5751.55 of the Revised Code applies to qualifying employees  526
hired as described in section 5751.55 of the Revised Code on or  527
after the first day of the first January following the effective  528
date of this section.  529