122.153 False information to obtain tax credit. - Ohio Statutes

122.153 False information to obtain tax credit.

If the industrial technology and enterprise advisory council committee receives information alleging that an investor that was issued a tax credit certificate presented false information to an Edison center or the committee in connection with obtaining the certificate, it shall send written notice to the investor that if the allegation is found to be true the investor may be penalized as provided in this section. After giving the investor an opportunity to be heard on the allegation, the committee shall determine if the investor presented false information in connection with obtaining a tax credit certificate.

If the committee determines the investor submitted false information, it may revoke any remaining tax credit available to the investor. The committee shall send written notice of the revocation to the investor and the tax commissioner. The tax commissioner may make an assessment against the investor to recapture any amount of tax credit that the investor already has claimed. The time limitations on assessments under the laws of the particular tax against which the investor claimed the credit do not apply to an assessment under this section.

Effective Date: 06-30-1997