State Senator Bill Beagle
Investment plan for Struggling Communities Passes Ohio Senate
New Markets Tax Credit Expansion Clears Chamber 31-2 

COLUMBUS– State Senator Bill Beagle (R–Tipp City) announced today that Senate Bill 327, legislation designed to boost investment in low income communities, passed the Ohio Senate 31-2. 

Joint-sponsored with State Senator Charleta Tavares (D–Columbus), SB 327 seeks to expand access to private investment capital for small businesses located in economically distressed areas of the state by improving and expanding the Ohio New Markets Tax Credit program. 

“Ohio’s New Markets Tax Credit program has the potential to create significant economic impact and job creation in precisely the areas of the state that need it the most,” Beagle said. “This legislation is about giving small businesses and entrepreneurs a chance to bring jobs, opportunity, life and energy back to communities who have yet to rebound from recent economic turmoil.” 

Senate Bill 327 would allow for rapid deployment of over $437 million of investment in Ohio’s poorest communities by raising the annual credit limit from $10 million to $50 million and taking advantage of best practices realized in other state New Markets programs. 

The legislation now moves to Ohio House of Representatives for further action. 

Senator Bill Beagle serves the people of Ohio’s 5th Senate District, which includes Miami County and portions of Montgomery and Darke Counties. To learn more, go to www.OhioSenate.gov/Beagle