Reduce taxes on new banks and mortgage lenders
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To amend sections 5726.01, 5726.02, 5726.04, 5726.06, and 5751.01 of the Revised Code to reduce the tax liability of newly formed banks by up to one million dollars per year for their first three years and to exclude the principal balance of mortgage loans sold by a mortgage lender from the lender's commercial activity tax gross receipts.
Effective DateApril 12, 2021
CommitteesSenate Insurance and Financial Institutions Committee
House Financial Institutions Committee