1806.04 TAX CREDIT FOR BUSINESSES THAT FOSTER NEW JOBS IN OHIO.

   The City of Brook Park, by ordinance, may grant a refundable or nonrefundable credit against its tax on income to a taxpayer to foster job creation in the City of Brook Park. If a credit is granted under this section, it shall be measured as a percentage of the new income tax revenue the City of Brook Park derives from new employees of the taxpayer and shall be for a term not exceeding fifteen years. Before the City of Brook Park passes an ordinance granting a credit, the City of Brook Park and the taxpayer shall enter into an agreement specifying all the conditions of the credit.

(Ord. 9984-2015.  Passed 12-15-15; Ord. 11375-2023. Passed 12-12-23.)

1806.05 TAX CREDITS TO FOSTER JOB RETENTION.

   The City of Brook Park, by ordinance, may grant a refundable or nonrefundable credit against its tax on income to a taxpayer for the purpose of fostering job retention in the City of Brook Park. If a credit is granted under this section, it shall be measured as a percentage of the income tax revenue the City of Brook Park derives from the retained employees of the taxpayer, and shall be for a term not exceeding fifteen years. Before the City of Brook Park passes an ordinance allowing such a credit, the City of Brook Park and the taxpayer shall enter into an agreement specifying all the conditions of the credit.

(Ord. 9984-2015.  Passed 12-15-15; Ord. 11375-2023. Passed 12-12-23.)

1806.06 ELECTION BY A NET PROFIT TAXPAYER TO BE SUBJECT TO THE PROVISIONS OF R.C. CHAPTER 718.

   (EDITOR'S NOTE: This section was repealed by Ordinance 11375-2023, passed December 12, 2023.)