The Municipality, by ordinance, may grant a refundable or non-refundable credit against its tax on income to a taxpayer that also receives a tax credit under R.C. § 122.17 or a non-refundable credit to a taxpayer who receives a tax credit under R.C. § 122.171. The credit, if granted under this section, 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 passing an ordinance granting a credit, the Municipality and the taxpayer shall enter into an agreement specifying all of the conditions of the credit.
(Ord. 2345. Passed 6-8-06.)