Expand research, development tax credit to apply to income tax

Legislative status

1. Introduced
2. In Committee
3. Reported by Committee
4. Floor Vote Scheduled
5. Passed One Chamber
6. Passed Both Chambers
7. Sent to Executive
8. Signed into Law

Summary

The bill lets Ohio taxpayers claim a nonrefundable credit equal to 7% of qualified research expenses that exceed their three‑year average, directly against their state income tax. Credits that exceed the tax due can be carried forward for up to seven years. It adds record‑keeping, audit, and ordering rules to prevent double‑dipping and applies to both individual and consolidated taxpayers.

AI-generated summary — may be incomplete or inaccurate. Verify against the official bill text.

Hearings

• House Ways and Means: H. B. No. 737, H. B. No. 762, S. B. No. 307, H. B. No. 613, H. B. No. 391, H. B. No. 608, H. B. No. 642, H. B. No. 756
  House Ways and Means · Jun 9, 2026
• House Ways and Means: H. B. No. 391, H. B. No. 737, H. B. No. 756, H. B. No. 762
  House Ways and Means · Mar 25, 2026

History

1. Mar 18, 2026Referred to committee
2. Mar 11, 2026Introduced

Sponsors

• Jack Daniels (R) · sponsor
• Jack K. Daniels
• Jim Thomas

Bill text

Opens the legislature’s own copy.

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