122:7-1-01 Definitions.

 

 

 

122:7-1-01                   Definitions.

 

 

 

(A)   "Authority" means the tax credit authority created pursuant to section 122.17 of the Revised Code.

 

(B)    "Date of initial operations" means the date on which the taxpayer's facility and equipment are in a condition sufficient to allow for the initiation of substantial project activities, including but not limited to, the manufacture of product, storage of goods and development of software.

 

(C)  "Director" means the director of development of the state of Ohio.

 

(D)    "Disadvantage person" means a resident of Ohio who is meets at least one of the following criteria:

 

(1)   Is a person who is currently receiving unemployment compensation or has not held a full-time job for at least the last four months;

 

(2)   Is certified as having a disability by the state of Ohio's rehabilitation services commission or bureau of workers' compensation, or who is considered disabled under the Americans with Disabilities Act;

 

(3)   Is eligible for Workforce Investment Act program assistance; or

 

(4)   Is a person whose total gross annual income is less than the annual equivalent of one-hundred fifty percent of the federal minimum wage, or is part of a household of two or more persons whose total gross annual income is less than the annual equivalent of three-hundred percent of the federal minimum wage.

 

(E)  "Extraordinary circumstance" means one or more of the following:

 

(1)   The project proposes to or actually hires and maintains less than twenty-five but at least ten new full-time employment positions at a single project location within three years of initial project operations and proposes to or actually pays and maintains an average hourly base wage rate of at least four hundred percent of the federal minimum wage.

 

(2)    The proposed project is either the indirect primary beneficiary of financial support or the direct non-primary beneficiary of financial support from a local political subdivision, a county, or a nonprofit economic development agency;

 

 

 

 

(3)   The proposed project involves the establishment or expansion of headquarters, research and development, science and technology, or information systems-related operations; or

(4)   Other factors related to the project that present an extraordinary opportunity for the state.

(F)      "Fixed-asset investment" means the dollar amount invested in building, land, machinery and equipment, computers, and infrastructure related to the project. It does not include investments in furniture and fixtures, inventory, working capital, and other miscellaneous items.

(G)    Full-time employees" means an individuals who is are employed for consideration for an average of at least thirty-five hours a week or for less than an average of thirty-five hours a week if such a standard of service is generally accepted by custom and is specified in the tax credit agreement with the authority.

(H)    "Maintained employees" means the full-time employees employed by the taxpayer within the same county or within a fifteen-mile radius as the project on the date the authority approves the project for a tax credit in a public meeting.

(I)   "Minority" means a resident of Ohio who is a member of one of the following groups: Blacks or African Americans, American Indians, Hispanics or Latinos, and Asians Orientals.

(J)    "Retail" means the effecting of point-of-final-purchase transactions at a facility open to the consuming public, wherein one party is obligated to pay the price and the other party is obligated to transfer title to or possession of the item sold.

(K)   "Retained employees" means the full-time employees employed in the project at the project location on the date the authority approves the project for a tax credit in a public meeting. Retained employees includes those full-time employees hired after the authority approves the project for a tax credit and before the taxpayer has entered into the tax credit agreement, if the taxpayer has not entered into the tax credit agreement within sixty days after receiving the agreement from the department of development. Further, retained employees includes those full-time employees transferred to the project locations or relocated to the project location under section 122.17(D)(8) of the Revised Code before the authority approves the project for a tax credit in a public meeting and after such action by the authority.

(L)    "Tax year" means the calendar year in and for which the tax imposed by section

5733.06 or 5747.02 of the Revised Code is required to be paid.

(M)    "Taxable year" means the annual tax reporting period of the taxpayer prescribed by division (A) of section 5733.031 of the Revised Code.

(N)   "Taxpayer" means a business entity that has entered into an agreement for a tax credit pursuant to division of section 122.17 of the Revised Code.

(O)   "Transferred employees" means the full-time employees employed by the taxpayer in another political subdivision in the state other than the political subdivision in which the project is located that are relocated to the project location and whose positions are refilled in the first political subdivision. Such transferred employees relocated to the project location after the authority approved the project for a tax credit in a public meeting shall not be considered new employees under these rules. unless the employees were hired prior to the authority approving the project for a tax credit.

Effective:                                                     01/31/2007

R.C. 119.032 review dates:                         11/01/2006 and 01/31/2012

CERTIFIED ELECTRONICALLY

Certification

01/19/2007

Date

Promulgated Under:                           119.03

Statutory Authority:                           122.17

Rule Amplifies:                                  122.17

Prior Effective Dates:                         9/25/2000; 11/8/1999; 4/8/1994; 11/10/2003