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127th General Assembly, Regular Session, pt. 3 4670 (2007-2008)

handle is hein.ssl/ssoh0278 and id is 1 raw text is: 4670 (1127th General Assembly) (Substitute House Bill Number 157) AN ACT To amend sections 3953.33, 5701.11, 5739.01, 5739.02, 5739.035, and 5747.08 of the Revised Code to require a box on personal income tax returns that a taxpayer may check to authorize a paid tax preparer to speak to the Department of Taxation about certain matters concerning the return, to exempt property used to provide electronic publishing services from sales and use taxation, to incorporate changes in the Internal Revenue Code since December 28, 2006, into Ohio's tax law, and to revise the date by which title insurance agents or agencies must have independent reviews made of certain accounts. Be it enacted by the General Assembly of the State of Ohio: SECTION 1. That sections 3953.33, 5701.11, 5739.01, 5739.02, 5739.035, and 5747.08 of the Revised Code be amended to read as follows: Sec. 3953.33. (A) Every title insurance agent or agency that handles escrow, settlement, closing, or security deposit accounts shall have an annual independent review made of its escrow, settlement, closing, and security deposit accounts of a fiseal year basis within ninety days aftcr the elcse ef the prcvies fiseal year each year on or before the thirty-first day of December for the twelve-month period ending the preceding thirty-first day of August. The title insurance agent or agency shall provide proof of the annual review to each title insurance company that it represents. The superintendent of insurance shall promulgate rules under Chapter 119. of the Revised Code setting forth the minimum threshold level at which a review is required, the standards of the review, the minimum qualifications of the independent party conducting the review, and the form of the report that is required. The superintendent may also require title insurance agents or agencies to provide a copy of their annual review reports to the superintendent. The annual review required by this division does not apply to interest on lawyer's trust accounts established and maintained by an

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