On March 22, 2012, House Bill 489 and Senate Bill 314 (collectively, the Bills) were introduced in the General Assembly. The Bills represent the “JobsOhio II legislation,” which is follow up legislation to the provisions of House Bill 1, which was enacted in February 2011.
In a long-awaited move, the U.S. House on Thursday passed, as part of the JOBS Act, proposed legislation that includes raising the threshold for SEC registration for banks and bank holding companies from 500 shareholders to 2,000 shareholders. The threshold for deregistration would be increased from 300 shareholders to 1,200 shareholders.
The Department of Homeland Security (DHS) has announced the expansion of TSA Precheck, a passenger pre-screening initiative. Under this initiative, the Transportation Security Administration (TSA) focuses its efforts on passengers the agency knows less about, while providing expedited screening for travelers who volunteer information about themselves before flying.
As you may know, the annual cap for the current fiscal year allocation of H-1B visas was reached on November 22, 2011. Since that time, employers have not been able to file H-1B visa petitions subject to the annual cap.
Every 10 years, following the census, the Ohio Apportionment Board is tasked with redrawing Ohio’s House and Senate districts to reflect changes in population. The Ohio legislative districts must include 99 House Districts and 33 Senate Districts.
An SBC is a standardized explanation of health coverage intended to help individuals make apples-to-apples comparisons of their options for health coverage. The Internal Revenue Service, Department of Labor and the Department of Health and Human Services (the Departments) published proposed SBC rules and an SBC template on August 22, 2011.
The development of oil and gas from Utica shale is one of the most significant opportunities for economic development in Ohio in the recent past. For example, geologists have estimated that Ohio’s portion of Utica shale alone could contain up to 15 trillion cubic feet of natural gas and 5 million barrels of oil-related liquids.
On February 1, 2012, the Ohio EPA issued its final general permit for oil and gas production sites. The general permit covers equipment used for production activities at Marcellus or Utica/Point Pleasant shale wells in Ohio.
The IRS issued Notice 2012-9 on January 3, 2012, clarifying some of its earlier guidance in Notice 2011-28 on reporting the cost of health coverage on Form W-2. The aggregate cost of health coverage will be reported in Box 12 with Code DD, starting with 2012 Form W-2s (distributed in January 2013).
The New York Stock Exchange (NYSE) published Information Memo 12-4 on January 25, 2012, in which NYSE altered its previous position under NYSE Rule 452 of allowing brokers to vote customer shares in certain situations without specific client instructions.
On December 21, 2011, Governor Kasich signed Substitute House Bill 225 (the Bill). As enacted, the Bill includes changes to Ohio’s New Community Authority (NCA) law, permits the county boards of revision to adopt procedures for the electronic filing of real property tax valuation complaints and makes county auditors responsible for the review and approval of property tax exemption applications for certain types of publicly owned property.