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(a) Significant and wide - ranging amendments to ORC 718 were enacted by Am Sub BB 5, passed by the 130" General Assembly, and signed by Governor Kasich on December 19, 2014, and H.B. 5 required municipal corporations to conform to and adopt the provisions of ORC 718 in order to have the authority to impose, enforce, administer and collect a municipal income tax. (b) As mandated by H.B. 5, municipal income tax Ordinance 21�15 31 -15, effective January 1, 2016, comprehensively amends Chapter 128 in accordance with the provisions of ORC 718 to allow the Municipality to continue the in- come tax and withholding tax administration and collection efforts on behalf of the Municipality. 128.02 EFFECTIVE DATE (a) Ordinance 2015 XX31-15, effective January 1, 2016, and corresponding changes to ORC 718, apply to municipal taxable years beginning on or after January 1, 2016. All provisions of this Chapter 128 apply to taxable years be- ginning 2016 and succeeding taxable years. (b) Ordinance 2011 X 31 -15 does not repeal the existing sections of Chapter 128 for any taxable year prior to 2016, but rather amends Chapter 128 effective January 1, 2016. For municipal taxable years beginning before January 1, 2016, the Municipality shall continue to administer, audit, and enforce the income tax of the Municipality under ORC 718 and ordinances and resolutions of the Mu- nicipality, as that chapter and those ordinances and resolutions existed before January 1, 2016. (Uncodified Section 2 of Am Sub HB 5, passed Dec 2014; ORC 718.04) 128.03 DEFINITIONS Any tens used in this chapter that is not otherwise defined in this chapter has the same meaning as when used in a comparable context in laws of the United States relating to federal income taxation or in Title LVII of the Ohio Revised Code, unless the context clearly indicates or requires a different meaning. If a term used in this chapter that is not otherwise defined in this chapter is used in a comparable context in both the laws of the United States relating to federal in- come tax and in Title LVII of the Ohio Revised Code and the use is not con- sistent then the use of the term in the laws of the United States relating to feder- al income tax shall control over the use of the tern in Title LVII of the Ohio Revised Code. For purposes of this Section, the singular shall include the plural, and the mascu- line shall include the feminine and the gender - neutral. As used in this chapter: (a) "ADJUSTED FEDERAL TAXABLE INCOME," for a person required to file as a C corporation, or for a person that has elected to be taxed as a C corpo- ration under division 2W(vX4) of this section, means a C corporation's feder- al taxable income before net operating losses and special deductions as deter- mined under the Internal Revenue Code, adjusted as follows: (Al) Deduct intangible income to the extent included hi federal taxable income. The deduction shall be allowed regardless of whether the in- tangible income relates to assets used in a trade or business or assets held for the production of income. 23