122:7-1-01 Definitions.  

  • Text Box: ACTION: Revised Text Box: DATE: 06/01/2010 12:43 PM

     

     

     

    Rule Summary and Fiscal Analysis (Part A)

     

    Department of Development

    Agency Name

     

    Tax Credit Authority                                          Robert Stempfer

    Division                                                                  Contact

     

    77 South High Street 29th floor Columbus OH 43215-6130

    614-466-1714

    Agency Mailing Address (Plus Zip)                                       Phone                     Fax

    122:7-1-01

    Rule Number

    NEW

    TYPE of rule filing

    Rule Title/Tag Line              Definitions.

    RULE SUMMARY

    1.  Is the rule being filed consistent with the requirements of the RC 119.032 review? No

    2.  Are you proposing this rule as a result of recent legislation? Yes

    Bill Number: HB1                   General Assembly: 128           Sponsor: Sykes

    3.  Statute prescribing the procedure in accordance with the agency is required to adopt the rule: 119.03

    4.  Statute(s) authorizing agency to adopt the rule: 122.17(I)

    5.  Statute(s) the rule, as filed, amplifies or implements: 122.17

    6.  State the reason(s) for proposing (i.e., why are you filing,) this rule:

    To update the rule to be consistent with recent changes to the underlying statute.

    7.  If the rule is an AMENDMENT, then summarize the changes and the content of the proposed rule; If the rule type is RESCISSION, NEW or NO CHANGE, then summarize the content of the rule:

    The changes to Job Creation Tax Programs reflect shifting the focus of the calculation of the tax credit from being based on taxes generated by specific new

    employees to one based on total aggregate payroll. Full time equivalent employees, payroll increase factor and payroll are among the definitions added.

    8.  If the rule incorporates a text or other material by reference and the agency claims the incorporation by reference is exempt from compliance with sections

    121.71 to 121.74 of the Revised Code because the text or other material is generally available to persons who reasonably can be expected to be affected by the rule, provide an explanation of how the text or other material is generally available to those persons:

    Federal Code and Ohio Revised Code are readily available online or at public libraries.

    9.  If the rule incorporates a text or other material by reference, and it was infeasible for the agency to file the text or other material electronically, provide an explanation of why filing the text or other material electronically was infeasible:

    Federal Code and Ohio Revised Code are readily available online or at public libraries.

    10.  If the rule is being rescinded and incorporates a text or other material by reference, and it was infeasible for the agency to file the text or other material, provide an explanation of why filing the text or other material was infeasible:

    Not Applicable.

    11.  If revising or refiling this rule, identify changes made from the previously filed version of this rule; if none, please state so:

    Incorporated grammatical changes made by LSC.

    12.  119.032 Rule Review Date:

    (If the rule is not exempt and you answered NO to question No. 1, provide the scheduled review date. If you answered YES to No. 1, the review date for this rule is the filing date.)

    NOTE: If the rule is not exempt at the time of final filing, two dates are required: the current review date plus a date not to exceed 5 years from the effective date for Amended rules or a date not to exceed 5 years from the review date for No Change rules.

    FISCAL ANALYSIS

    13.  Estimate the total amount by which this proposed rule would increase / decrease either revenues / expenditures for the agency during the current biennium (in dollars): Explain the net impact of the proposed changes to the budget of your agency/department.

    This will have no impact on revenues or expenditures. 0

    0

    14.  Identify the appropriation (by line item etc.) that authorizes each expenditure necessitated by the proposed rule:

    Section 259.20.60 of Am. Sub. HB1, line item 4S00 195630

    15.  Provide a summary of the estimated cost of compliance with the rule to all directly affected persons. When appropriate, please include the source for your information/estimated costs, e.g. industry, CFR, internal/agency:

    This rule, providing program definitions, will not generate any cost to affected persons.

    16.  Does this rule have a fiscal effect on school districts, counties, townships, or municipal corporations? No

    17.  Does this rule deal with environmental protection or contain a component dealing with environmental protection as defined in R. C. 121.39? No

Document Information

File Date:
2010-06-01
CSI:
Yes
Rule File:
122$7-1-01_PH_RV_N_RU_20100601_1243.pdf
RSFA File:
122$7-1-01_PH_RV_N_RS_20100601_1243.pdf
Related Chapter/Rule NO.: (1)
Ill. Adm. Code 122:7-1-01. Definitions