(a) When the taxable income of a resident of the Municipality is subject to the municipal income tax of another municipality, or of a joint economic development district created pursuant to Ohio R.C. 715.70, as the same exists or may hereafter be amended, on the same income taxable under this chapter, such resident shall be allowed a credit of the amount of income tax paid on such taxable income to such other municipality or joint economic development district equal to one-third of this Municipality's tax rate. As used in this section, "taxable income" includes the distributive share of net profits of a resident partner or owner of an unincorporated business entity.
(b) If a City resident is entitled to credit for taxes paid in another municipality or joint economic development district, such resident is required to file a return on such forms and in such manner as the Administrator may prescribe. If such resident fails, neglects or refuses to file such return or form as is prescribed by the Administrator, he or she shall not be entitled to such credit and shall be considered to be in violation of this chapter for failure to file a return and make payment of taxes when due hereunder.
(c) Such tax credit shall be amended only by a majority vote of a general election.
(Ord. 55-95. Passed 7-10-95.)
(EDITOR'S NOTE: The foregoing section was interpreted by the Director of Law of the City to effect a fifty percent (50%) tax credit. See the Law Director's Opinion dated May 18, 1989.)