Ohio2026Passed Legislature
HB140
HB140: Authorize Refundable Thriving Families Tax Credit
Last scannedAug 25, 2026, 4:32 AM
In one sentence
This bill authorizes a new refundable tax credit for certain Ohio income taxpayers who have dependents that are minor children.
What it does
- Amends sections of the Revised Code to define how adjusted gross income is calculated by adding or subtracting specific types of interest, dividends, and benefits.
- Allows deductions from taxable income for medical care insurance costs paid by taxpayers who do not have access to subsidized employer health plans.
Who it affects
- Ohio income taxpayers with dependents who are minor children
Limits and unknowns
- The provided text does not list the dollar amount of the credit.
- The bill summary does not specify which taxpayers qualify beyond having minor children as dependents.
- No effective date is provided in the source material for when this law begins.
Plain language
Terms to know
- Refundable credit
- A tax benefit that can reduce a taxpayer's bill to zero and result in a cash payment if the credit amount is larger than what they owe.
- Adjusted gross income
- Federal adjusted gross income, as defined by federal law, with specific additions or subtractions made according to Ohio tax rules.
Official record
Sources
Official summary
Authorize the refundable thriving families tax credit
Official activity
Bill history
- As Introduced