(a) A resident of the city who is required to and does pay, or acknowledges liability for, a municipal income tax to another municipal corporation upon the same income taxable under the provisions of this chapter, may claim a credit up to the entire first one percent of taxable income paid by the resident or on behalf of the resident to such other municipal corporation as tax. In no event shall such credit exceed 1% of such taxable income.
(b) A claim for the credit provided by this section shall be made in such manner as the Administrator may require by regulation or policy.
(c) Such credit shall become effective for any and all income taxable by the City of Parma which is earned or received on or after April 1, 2002.
(d) Any adjustments to the municipal income tax credit rate set forth in this section shall first be submitted to the electors of the City for approval.
(e) As approved by the electors on May 2, 2006, effective January 1, 2007, the municipal income tax credit provided in this section on all income taxable by the City of Parma which is earned or received on or after January 1, 2007, shall be increased to the entire first 2% of taxable income paid to another municipal corporation. In no event shall any credit claimed pursuant to this section exceed 2% of such taxable income.
(Ord. 216-15. Passed 10-5-15.)