Transformational mixed use development tax credit

A taxpayer may claim a nonrefundable credit against the tax imposed under this chapter for each person included in the annual report of the taxpayer that holds the rights to a tax credit certificate that is issued on or after the effective date of this section under section 122.09 of the Revised Code. The credit shall equal the dollar amount indicated on the certificate and may be claimed for the taxable year that aligns with the calendar year specified in the certificate or with the ensuing calendar year and in the order required under section 5726.98 of the Revised Code. If the credit amount exceeds the tax otherwise due under section 5726.02 of the Revised Code after deducting all other credits preceding the credit in the order prescribed in section 5726.98 of the Revised Code, the excess may be carried forward for not more than five ensuing taxable years, but the amount of the excess credit claimed against the tax for any year shall be deducted from the balance carried forward to the next year.

No credit shall be claimed under this section to the extent the certificate was used to claim a credit under section 5725.35, 5729.18, or 5747.87 of the Revised Code.

Last updated August 21, 2025 at 1:53 PM