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.)