Ohio SB110 modifies tax credits for rural business growth funds, adjusting investment thresholds and recapture provisions.

Ohio SB110 amends the tax credit rules for rural business growth funds, setting new investment thresholds and altering recapture provisions. It introduces different investment limits for funds certified under various programs, specifying the percentage of eligible investment authority that must be invested in growth within certain timeframes. The bill also modifies the conditions under which tax credits can be recaptured, including scenarios where funds fail to maintain investments or make distributions before decertification.

Ohio SB110 modifies tax credits for rural business growth funds, adjusting investment thresholds and recapture provisions.

Ohio SB110 amends the tax credit rules for rural business growth funds, setting new investment thresholds and altering recapture provisions. It introduces different investment limits for funds certified under various programs, specifying the percentage of eligible investment authority that must be invested in growth within certain timeframes. The bill also modifies the conditions under which tax credits can be recaptured, including scenarios where funds fail to maintain investments or make distributions before decertification.