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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:

  • Sep 07, 2024

    Accountancy Board focuses on national licensure reform proposals

    OSCPA reported that several individual states, including Ohio, are seriously exploring a variety of licensure reforms on their own to tackle the shrinking CPA pipeline.
  • Sep 06, 2024

    Ohio Business Gateway deadline approaching

    The OBG on September 5 implemented a targeted enhancement for CPAs to simplify and streamline the User Access Request process within the OBG Portal.
  • Sep 06, 2024

    Week in Review: Sept. 8, 2024

    The Public Utilities Commission of Ohio highlighted Intel's projected 20-year, $20 billion contribution to state economic goals and Ohio Consumers' Counsel backing Wednesday in approving discounted electric rates for the company's future semiconductor facilities in Central Ohio.
  • Jun 14, 2024

    May revenues on target; Underspending exceeds FY24 shortfall

    Tax revenues were back on target in May after a slide over the past several months that turned a $200 million-plus overage into a $400 million-plus shortfall in collections, according to preliminary figures from the Office of Budget and Management (OBM). Year-to-date underspending, however, far exceeds any revenue shortfalls.
  • Jun 14, 2024

    Mandatory overtime pay rule is slated to take effect July 1; OSCPA working to delay implementation

    As previously reported by OSCPA, The Wage and House Division of the U.S. Department of Labor has adopted a rule that will increase the level of income below which employers must pay overtime.