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.