The municipality, by Ordinance, may grant a refundable or nonrefundable credit against its tax on income to a taxpayer to foster job creation in the municipality. If a credit is granted under this section, it shall be measured as a percentage of the new income tax revenue the municipality derives from new employees of the taxpayer and shall be for a term not exceeding fifteen years. Before the municipality passes an ordinance granting a credit, the municipality and the taxpayer shall enter into an agreement specifying all the conditions of the credit.
(Ord. 15-77, passed 12-21-2015; Am. Ord. 2019- 04, passed 1-7-2019)
Statutory reference:
Tax credit for businesses that foster new jobs in Ohio, see R.C. § 718.15