OEDA Works to Protect PAB, New Market Tax Credit & Historic Tax Credit

Nov 15, 2017 | Advocacy

The Ohio Economic Development Association has joined with a broad coalition of organizations asking members of Ohio’s congressional delegation to protect private activity bonds, the New Market Tax Credit and the Historic Tax Credit as important tools used for economic development in Ohio.  Sharing examples of how these tools have been used in Ohio, OEDA sent letters and made calls to every member of the Ohio delegation and is seeing the results of these coordinated efforts as evidenced by the Senate legislation. For a sample of those letters, click HERE.

The Senate tax reform bill:

  • Preserves the Private Activity Bond,
  • Preserves the New Markets Tax Credit,
  • Repeals advance refundings, and the
  • Historic Tax Credit is modified to a 10% credit and the credit for pre-1936 buildings is repealed.

OEDA will continue to be engaged on both bills as they move through their respective chambers and the conference committee.

HB168/BFPD Informational Webinar

Join a discussion, hosted by the Greater Ohio Policy Center (GOPC), to learn about the recently passed HB168, which establishes the bona fide purchaser defense (BFPD) into Ohio law. The establishment of the BFPD into Ohio law better aligns Ohio law with federal standards, and aims to encourage the redevelopment of lightly contaminated brownfield sites.

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An Open Letter to OEDA’s Members and Ohio’s Economic Development Community

OEDA has been listening and learning as the issues around systemic racism have been brought to the forefront and captured the nation’s attention.  It is devastating that the deaths of Ahmaud Arbery, Breonna Taylor, and George Floyd—and, sadly, the indisputable video evidence of their killings—became the catalysts for our country to collectively pay attention and admit that systemic racism exists. What is also indisputable is that the time for change is now.

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