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Ohio Budget

The House on April 21 passed its version of Ohio's biennial budget, wrapping in the school funding plan from House Bill 1 and including a 2% across-the-board income tax cut, which would put more than $300 million back in taxpayers’ pockets. The Ohio Senate has already begun its own hearings on the legislation.

The budget – House Bill 110 – also appropriates $155 million in COVID-19 relief for small businesses and adds more oversight of the executive branch, including the creation of a Joint Legislative Oversight and Review Committee of Federal COVID Relief Aid and the referral of more spending initiatives by state agencies to the Controlling Board for approval. Here is a complete breakdown from the Ohio Legislative Service Commission.

If you have questions about the provisions in the Ohio Budget, contact OSCPA's Government Relations team.

Latest budget news:

  • Jan 26, 2024

    Ohio Department of Taxation sends more notices in error

    In November, the Ohio Department of Taxation (ODT) mailed Verification of Income – Missing Ohio IT1040 letters to some taxpayers in error.
  • Jan 26, 2024

    Lawmakers eye income tax, CAT repeal by decade’s end

    Ohio would phase out its income tax (on nonbusiness income) entirely and eliminate the Commercial Activity Tax (CAT) as well under plans announced Tuesday.
  • Jan 26, 2024

    Politicos on the Move: Jan. 28, 2024

    Bill Johnson has officially resigned to become the new president of Youngstown State University, leaving his seat vacant in the U.S. House of Representatives 6th District.
  • Jan 26, 2024

    Week in Review: Jan. 28, 2024

    The Ohio Third Frontier Commission announced Wednesday it had approved $800,000 in grants through the Technology Validation and Start-up Fund, which will help four businesses bring new technology and innovative products to the workforce.
  • Jan 19, 2024

    Federal Tax Extenders “Compromise” Bill introduced

    On Tuesday, the chief tax writers in Congress announced a framework of a compromise tax bill that would temporarily expand individual tax credits and revive several business tax breaks.