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Bill Introduced to Amend Ohio State NMTC

Wednesday, March 19, 2014 - 7:00AM

Ohio Rep. Terry Boose introduced a bill last week that would allow more taxpayers and investments to qualify for the state new markets tax credit (NMTC) program. H.B. 478 would eliminate the requirement that a taxpayer receive a federal NMTC allocation in order to qualify for the state NMTC. The bill would also allow taxpayers to claim the NMTC earlier in the credit schedule and allow investments to be made in low-income businesses that derive 15 percent or more of their annual revenue from the rental or sale of real property. 

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