Bill Text: OH SB288 | 2009-2010 | 128th General Assembly | Introduced

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Bill Title: To authorize a commercial activity tax credit for underserved community grocery stores.

Spectrum: Partisan Bill (Democrat 1-0)

Status: (Introduced - Dead) 2010-08-09 - To Ways & Means & Economic Development [SB288 Detail]

Download: Ohio-2009-SB288-Introduced.html

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As Introduced

128th General Assembly Regular Session 2009-2010

S. B. No. 288

Senator Kearney 

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A BILL

To amend section 5751.98 and to enact section 5751.54

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of the Revised Code to authorize a commercial

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activity tax credit for underserved community

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grocery stores.

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BE IT ENACTED BY THE GENERAL ASSEMBLY OF THE STATE OF OHIO:

Section 1. That section 5751.98 be amended and section	5
5751.54 of the Revised Code be enacted to read as follows:	6

Sec. 5751.54. (A) As used in this section "underserved	7
community grocery" means a retail facility that operates on a	8
self-service basis, primarily selling fresh groceries, produce,	9
poultry, meat, baked goods, and dairy products; classified as a	10
"supermarket and other grocery (except convenience) store" under	11
the North American industry classification system; and located in	12
a census tract with below-average density of supermarkets and	13
groceries or containing households a majority of which are	14
low-income households.	15

(B) For tax periods beginning on or after January 1, 2010, a	16
nonrefundable credit may be claimed under this chapter equal to	17
ten per cent of the tax imposed under this chapter on the taxable	18
gross receipts of an underserved community grocery. The taxpayer	19
shall claim the credit in the order required under section 5751.98	20
of the Revised Code.	21

Sec. 5751.98.  (A) To provide a uniform procedure for	22
calculating the amount of tax due under this chapter, a taxpayer	23
shall claim any credits to which it is entitled in the following	24
order:	25

(1) The nonrefundable jobs retention credit under division	26
(B) of section 5751.50 of the Revised Code;	27

(2) The nonrefundable credit for qualified research expenses	28
under division (B) of section 5751.51 of the Revised Code;	29

(3) The nonrefundable credit for a borrower's qualified	30
research and development loan payments under division (B) of	31
section 5751.52 of the Revised Code;	32

(4) The nonrefundable credit for calendar years 2010 to 2029	33
for unused net operating losses under division (B) of section	34
5751.53 of the Revised Code;	35

(5) The nonrefundable credit for underserved community	36
groceries under section 5751.54 of the Revised Code;	37

(6) The refundable credit for calendar year 2030 for unused	38
net operating losses under division (C) of section 5751.53 of the	39
Revised Code;	40

(6)(7) The refundable jobs creation credit under division (A)	41
of section 5751.50 of the Revised Code.	42

(B) For any credit except the creditrefundable credits	43
enumerated in division (A)(4) of this section, the amount of the	44
credit for a tax period shall not exceed the tax due after	45
allowing for any other credit that precedes it in the order	46
required under this section. Any excess amount of a particular	47
credit may be carried forward if authorized under the section	48
creating the credit.	49

Section 2. That existing section 5751.98 of the Revised Code	50
is hereby repealed.	51