On July 17, 2009, Governor Strickland signed Am. Sub. H.B. 1 (the “Bill”), the biennial operating budget bill for State fiscal years 2010 and 2011. The Bill includes changes to several existing State tax credits, provides for two new State tax credits, provides for a new loan guarantee program and provides for a new sales tax “TIF” for major sporting events, all of which are discussed in detail in this Client Alert. The Bill also includes several significant changes to the job creation tax credit and job retention tax credit, which are discussed in detail in a companion Alert.