Ohio § 5729.19 State low-income housing tax credit

Ohio Statutes

§ 5729.19 — State low-income housing tax credit

Ohio § 5729.19

Title 57Taxation

Ch. 5729Foreign Insurance Companies

This text of Ohio § 5729.19 (State low-income housing tax credit) is published on Counsel Stack Legal Research, covering Ohio primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Ohio Rev. Code Ann. § 5729.19 (2026).

Text

(A)Terms used in this section have the same meanings as in section175.16of the Revised Code.

(B)There is allowed a nonrefundable tax credit against the tax imposed by section5729.03or5729.06of the Revised Code for a foreign insurance company that is allocated a credit issued by the executive director of the Ohio housing finance agency under section175.16of the Revised Code. The credit equals the amount allocated to such company for the calendar year and reported by the designated reporter on the form prescribed by division (I) of section175.16of the Revised Code. The credit authorized in this section shall be claimed in the order required under section5729.98of the Revised Code. If the amount of a credit exceeds the tax otherwise due under section5729.03or5729.06of the Revised Code aft

Free access — add to your briefcase to read the full text and ask questions with AI

(A) Terms used in this section have the same meanings as in section175.16of the Revised Code.

(B) There is allowed a nonrefundable tax credit against the tax imposed by section5729.03or5729.06of the Revised Code for a foreign insurance company that is allocated a credit issued by the executive director of the Ohio housing finance agency under section175.16of the Revised Code. The credit equals the amount allocated to such company for the calendar year and reported by the designated reporter on the form prescribed by division (I) of section175.16of the Revised Code.

The credit authorized in this section shall be claimed in the order required under section5729.98of the Revised Code. If the amount of a credit exceeds the tax otherwise due under section5729.03or5729.06of the Revised Code after deducting all other credits preceding the credit in the order prescribed in section5725.98of the Revised Code, the excess may be carried forward for not more than five ensuing calendar years. The amount of the excess credit claimed in any such year shall be deducted from the balance carried forward to the next calendar year.

No credit shall be claimed under this section to the extent the credit was claimed under section5725.36,5726.58, or5747.83of the Revised Code.

A foreign insurance company shall not be required to pay any additional tax levied under section5729.06of the Revised Code as a result of claiming the tax credit authorized by this section.

Last updated August 31, 2023 at 5:03 PM