Authorizes a tax credit for businesses making qualifying technology investments to enhance competitiveness.
The bill establishes a business technology investment tax credit program to encourage modernization and competitiveness among Ohio's small businesses. Eligible businesses that make qualifying technology investments can apply for a tax credit certificate. The credit equals 30% of the eligible technology investment, up to $75,000. The total amount of tax credit certificates issued each fiscal year cannot exceed $20 million. The bill defines "eligible technology investment" as expenditures for specific technologies supporting core business operations.
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