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BILL TO EXPAND OHIO NMTC PROGRAM INTRODUCED

Friday, April 13, 2012 - 7:00AM

Ohio State Sens. Bill Beagle and Charleta Tavares yesterday introduced S.B. 327 to increase the amount of state new markets tax credits (NMTCs) that may be claimed. The bill would raise the program’s annual cap from $10 million to $50 million. S.B. 327 also provides for a six-month cure period for noncompliant entities and would allow investments in businesses that derive 15 percent or more of their annual revenue from real estate transactions.

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