Governor Proposes Ohio New Markets Tax Credit
By Caitlin Jones & A. J. Johnson
1 min read
Tax Credit Advisor, March 2009: Ohio Gov. Ted Strickland in his recent “State of the State Address” said as part of his new proposed two-year state budget he will seek passage by Ohio lawmakers of legislation to create a new state new markets tax credit to promote downtown revitalization in urban areas.
The proposed program would allow tax credits to taxpayers for investments in entities that make loans to, or capital investments in, downtown centers and other “underserved” areas. Investors could apply for the credit after 7/1/10, and begin claiming it in 2013.
