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

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• Historic Tax Credit is modified to a 10% credit and the credit for pre-1936 buildings is repealed.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.