This week, Senate Finance Committee Chairman Matt Dolan (R-Chagrin Falls) provided sponsor testimony on Senate Bill 153 — an OMA-backed bill to expand eligibility for Ohio’s Job Retention Tax Credit (JRTC).
This legislation was developed with considerable input from the OMA Tax and Finance Committee with the aim of encouraging more manufacturing capital investment. The bill would expand manufacturing eligibility for the JRTC by eliminating current thresholds for payroll size and number of employees. Under SB 153, a new minimum capital investment would be established and adjusted to the lesser of $50 million or an amount equal to 5% of the tangible property at the facility site.
Members should reach out to their state senators to voice their support of the bill. 6/6/2019