Rep. Retherford Applauds Passage Of Ohio Rural Jobs Act
Language included in conference committee report on Senate Bill 8
November 30, 2017
[ Wes Retherford Home | Wes Retherford Press ]

State Representative Wes Retherford (R-Hamilton) yesterday announced that the Ohio House approved a conference committee report on Senate Bill 8. The report incorporated language that makes up the Ohio Rural Jobs Act.

The provision authorizes a nonrefundable tax credit for insurance companies that make investments in rural growth. This tax credit will be certified by the Ohio Development Services Agency for companies that invest in or lend to certain types of businesses that operate in counties with a population less than 200,000.

“I’m pleased that the legislature was able to negotiate and get the Ohio Rural Jobs Act across the finish line,” said Retherford. “Ensuring that we promote job growth in our more rural and agriculture based communities will be key to our future economic success in the state. I applaud my colleagues for helping support this effort.”

The Ohio Rural Jobs Act seeks to promote small business growth by incentivizing lending to rural small businesses that often have difficulty getting loans from regional or national banks.

Senate Bill 8 now awaits the Governor’s consideration.

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