OSCPA’s priorities avoid Governor’s veto pen, signed into law

Hannah News contributed to this report 

In his final biennial budget, Gov. Mike DeWine took the veto pen to the most items of his governorship, striking 67 items out of HB96 (Stewart), including several property tax provisions, before signing it just before midnight on June 30. 

The final enacted version of Substitute House Bill 96 includes a flat tax on nonbusiness income phased in over two years. Those making above $100,000 will pay 3.125% in tax year 2025, and everyone above $26,050 will pay 2.75% in tax year 2026. OSCPA also managed to avoid the Governor’s veto pen, and all priorities were enacted. 

OSCPA budget priorities include: 

• The alterations to the municipal income tax refund period would allow taxpayers who receive a filing extension on their return date to file refund claims within three years after the extended due date. See TAXCD72. 
• A provision adding clarity to ownership requirements for public accounting firms operating under an Employee Stock Ownership Plan (ESOP) structure, which are part of an alternative practice structure (APS). See ACCCD3.  
• A provision that allows nonprofit taxpayers with an unextended federal income tax return to extend the initial due date of their municipal net profit tax filing from April 15 to May 15 to match the federal income tax return due date. See TAXCD119.    
• Finally, the pass-through entity tax provision that would permit an electing PTE tax credit to be claimed by a PTE that owns another PTE that has paid the electing pass-through entity tax (IT 4738) or the traditional composite return (IT 4708). See TAXCD74.     

Speaker of the House Matt Huffman (R-Lima) announced that the House will be in session on Monday, July 21, for the purpose of considering overriding three of the governor’s 67 line-item vetoes. He said, “Other items may be considered at future scheduled sessions.”  

Specifically, the House will vote on three property tax reforms to override veto item numbers 55, 65 and 66, which address the following: 

• 55: Property Tax: County Budget Commission Authority and Procedure 
• 65: 20-Mill Floor Calculation 
• 66: School District Property Tax Levy Restrictions 

Any members who would like to email their views to Ohio legislators or Governor DeWine on these issues can go to our “Take Action” page and use the “compose your own message.”