State Representative Marlene Anielski (R-Walton Hills) provided sponsor testimony on House Bill 491 before the House Ways and Means Committee.


House Bill 491 would create a five year audited and voluntary pilot program for the use of State of Ohio Commercial Activities Tax (CAT) funds as a catalyst for corporate reinvestments and job creation for companies with a foreign trade zone status.  The legislation would permit companies with Activated Foreign Trade Zone status to internally re-deploy some, or all, of their CAT obligation toward five areas: Job Creation, Employee Training, Employee Continuing Education, Capital Investments (including GREEN Initiatives), and Export Initiatives; all of which will be subject to audits.


“The legislation stems from meetings and open communications with many businesses in the Northeast Ohio region,” Rep. Anielski said. “House Bill 491 is a business-friendly bill that aims to create jobs for all Ohioans throughout our state.”


House Bill 491 remains in the House Ways and Means Committee for additional hearings.

 
 
 
  
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