Bill Title: To authorize an income tax credit for residential landlords who improve a rental unit's energy efficiency.
Spectrum: Moderate Partisan Bill (Democrat 4-1)
Status: (Introduced - Dead) 2013-12-03 - To Ways & Means
[SB247 Detail]Download: Ohio-2013-SB247-Introduced.html
As Introduced
130th General Assembly | Regular Session | 2013-2014 |
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Cosponsors:
Senators Brown, Gentile, Tavares, Seitz
A BILL
| To amend section 5747.98 and to enact section 5747.82 | 1 |
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of the Revised Code to authorize an income tax | 2 |
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credit for residential landlords who improve a | 3 |
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rental unit's energy efficiency. | 4 |
BE IT ENACTED BY THE GENERAL ASSEMBLY OF THE STATE OF OHIO:
Section 1. That section 5747.98 be amended and section | 5 |
5747.82 of the Revised Code be enacted to read as follows: | 6 |
Sec. 5747.82. (A) For purposes of this section: | 7 |
(1) "Energy efficiency improvement" has the same meaning as | 8 |
in section 1710.01 of the Revised Code. | 9 |
(2) "Energy-saving device" means a residential washer, dryer, | 10 |
range, refrigerator, freezer, water heater, dishwasher, trash | 11 |
compactor, air conditioner, furnace, or other similar product used | 12 |
for regulating air or water temperature, cooking, sanitary | 13 |
purposes, or other household purposes, or a window or door on an | 14 |
outside wall of a home, if the device carries the energy star | 15 |
label indicating that it meets the efficiency criteria of the | 16 |
energy star program established by the United States department of | 17 |
energy and the United States environmental protection agency. | 18 |
"Energy-saving device" does not include any television or other | 19 |
appliance used primarily for entertainment. | 20 |
(3) "Residential rental property" means real property on | 21 |
which is located one or more dwelling units leased to tenants | 22 |
solely for residential purposes, but does not include a hotel or a | 23 |
college or university dormitory. | 24 |
(4) "Pass-through entity" includes a sole proprietor. | 25 |
(B) A taxpayer who is an investor in a pass-through entity | 26 |
that owns residential rental property may claim a refundable | 27 |
credit against the tax imposed by section 5747.02 of the Revised | 28 |
Code if, on or after January 1, 2013, the entity purchases and | 29 |
installs in the rental property an energy-saving device or the | 30 |
entity improves the rental property with an energy efficiency | 31 |
improvement installed by a person who is accredited by the | 32 |
building performance institute. The taxpayer may claim the | 33 |
taxpayer's proportionate or distributive share of fifteen per cent | 34 |
of the sum of the purchase and installation costs of the device or | 35 |
improvement. The taxpayer shall claim the credit in the taxpayer's | 36 |
taxable year that includes the last day of the pass-through | 37 |
entity's taxable year in which the installation was completed. The | 38 |
taxpayer shall claim the credit in the order required under | 39 |
section 5747.98 of the Revised Code. If the credit amount exceeds | 40 |
the tax otherwise due under section5747.02 of the Revised Code | 41 |
after deducting all other credits in that order, the taxpayer may | 42 |
claim a refund of the excess. | 43 |
Sec. 5747.98. (A) To provide a uniform procedure for | 44 |
calculating the amount of tax due under section 5747.02 of the | 45 |
Revised Code, a taxpayer shall claim any credits to which the | 46 |
taxpayer is entitled in the following order: | 47 |
(1) The retirement income credit under division (B) of | 48 |
section 5747.055 of the Revised Code; | 49 |
(2) The senior citizen credit under division (C) of section | 50 |
5747.05 of the Revised Code; | 51 |
(3) The lump sum distribution credit under division (D) of | 52 |
section 5747.05 of the Revised Code; | 53 |
(4) The dependent care credit under section 5747.054 of the | 54 |
Revised Code; | 55 |
(5) The lump sum retirement income credit under division (C) | 56 |
of section 5747.055 of the Revised Code; | 57 |
(6) The lump sum retirement income credit under division (D) | 58 |
of section 5747.055 of the Revised Code; | 59 |
(7) The lump sum retirement income credit under division (E) | 60 |
of section 5747.055 of the Revised Code; | 61 |
(8) The low-income credit under section 5747.056 of the | 62 |
Revised Code; | 63 |
(9) The credit for displaced workers who pay for job training | 64 |
under section 5747.27 of the Revised Code; | 65 |
(10) The campaign contribution credit under section 5747.29 | 66 |
of the Revised Code; | 67 |
(11) The twenty-dollar personal exemption credit under | 68 |
section 5747.022 of the Revised Code; | 69 |
(12) The joint filing credit under division (G) of section | 70 |
5747.05 of the Revised Code; | 71 |
(13) The nonresident credit under division (A) of section | 72 |
5747.05 of the Revised Code; | 73 |
(14) The credit for a resident's out-of-state income under | 74 |
division (B) of section 5747.05 of the Revised Code; | 75 |
(15) The credit for employers that enter into agreements with | 76 |
child day-care centers under section 5747.34 of the Revised Code; | 77 |
(16) The credit for employers that reimburse employee child | 78 |
care expenses under section 5747.36 of the Revised Code; | 79 |
(17) The credit for adoption of a minor child under section | 80 |
5747.37 of the Revised Code; | 81 |
(18) The credit for purchases of lights and reflectors under | 82 |
section 5747.38 of the Revised Code; | 83 |
(19) The nonrefundable job retention credit under division | 84 |
(B) of section 5747.058 of the Revised Code; | 85 |
(20) The credit for selling alternative fuel under section | 86 |
5747.77 of the Revised Code; | 87 |
(21) The second credit for purchases of new manufacturing | 88 |
machinery and equipment and the credit for using Ohio coal under | 89 |
section 5747.31 of the Revised Code; | 90 |
(22) The job training credit under section 5747.39 of the | 91 |
Revised Code; | 92 |
(23) The enterprise zone credit under section 5709.66 of the | 93 |
Revised Code; | 94 |
(24) The credit for the eligible costs associated with a | 95 |
voluntary action under section 5747.32 of the Revised Code; | 96 |
(25) The credit for employers that establish on-site child | 97 |
day-care centers under section 5747.35 of the Revised Code; | 98 |
(26) The ethanol plant investment credit under section | 99 |
5747.75 of the Revised Code; | 100 |
(27) The credit for purchases of qualifying grape production | 101 |
property under section 5747.28 of the Revised Code; | 102 |
(28) The small business investment credit under section | 103 |
5747.81 of the Revised Code; | 104 |
(29) The credit for research and development and technology | 105 |
transfer investors under section 5747.33 of the Revised Code; | 106 |
(30) The enterprise zone credits under section 5709.65 of the | 107 |
Revised Code; | 108 |
(31) The research and development credit under section | 109 |
5747.331 of the Revised Code; | 110 |
(32) The credit for rehabilitating a historic building under | 111 |
section 5747.76 of the Revised Code; | 112 |
(33) The refundable credit for rehabilitating a historic | 113 |
building under section 5747.76 of the Revised Code; | 114 |
(34) The refundable jobs creation credit or job retention | 115 |
credit under division (A) of section 5747.058 of the Revised Code; | 116 |
(35) The refundable credit for taxes paid by a qualifying | 117 |
entity granted under section 5747.059 of the Revised Code; | 118 |
(36) The refundable credits for taxes paid by a qualifying | 119 |
pass-through entity granted under division (J) of section 5747.08 | 120 |
of the Revised Code; | 121 |
(37) The refundable credit under section 5747.80 of the | 122 |
Revised Code for losses on loans made to the Ohio venture capital | 123 |
program under sections 150.01 to 150.10 of the Revised Code; | 124 |
(38) The refundable motion picture production credit under | 125 |
section 5747.66 of the Revised Code.; | 126 |
(39) The refundable credit for financial institution taxes | 127 |
paid by a pass-through entity granted under section 5747.65 of the | 128 |
Revised Code; | 129 |
(40) The refundable credit for rental property energy | 130 |
efficiency improvements under section 5747.82 of the Revised Code. | 131 |
(B) For any credit, except the refundable credits enumerated | 132 |
in this section and the credit granted under division (I) of | 133 |
section 5747.08 of the Revised Code, the amount of the credit for | 134 |
a taxable year shall not exceed the tax due after allowing for any | 135 |
other credit that precedes it in the order required under this | 136 |
section. Any excess amount of a particular credit may be carried | 137 |
forward if authorized under the section creating that credit. | 138 |
Nothing in this chapter shall be construed to allow a taxpayer to | 139 |
claim, directly or indirectly, a credit more than once for a | 140 |
taxable year. | 141 |
Section 2. That existing section 5747.98 of the Revised Code | 142 |
is hereby repealed. | 143 |
Section 3. Section 5747.98 of the Revised Code is presented | 144 |
in this act as a composite of the section as amended by both Am. | 145 |
Sub. H.B. 386 and Am. Sub. H.B. 510 of the 129th General Assembly. | 146 |
The General Assembly, applying the principle stated in division | 147 |
(B) of section 1.52 of the Revised Code that amendments are to be | 148 |
harmonized if reasonably capable of simultaneous operation, finds | 149 |
that the composite is the resulting version of the section in | 150 |
effect prior to the effective date of the section as presented in | 151 |
this act. | 152 |