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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:

  • May 10, 2024

    FTC bans noncompete agreements

    The Federal Trade Commission (FTC) issued its final rule on April 23 banning virtually all noncompete agreements covering workers in the United States. Absent a successful court challenge, the rule will go into effect Sept. 4, 2024.
  • May 10, 2024

    OSCPA signs onto letter urging DOL to delay implementation of new overtime final rule

    On May 9, the Partnership to Protect Workplace Opportunity, of which OSCPA is a member, sent a letter to the Department of Labor urging them to delay until at least Sept. 1, 2024, the first increase to the minimum salary threshold under the DOL’s new overtime final rule.
  • May 10, 2024

    GR team hosts guest speakers during Advance sessions

    The Ohio Society of sbf111胜博发 government relations team has already hosted three guest speakers during the live portion of the Advance sessions, with one more still on tap for May 14.
  • May 10, 2024

    April tax revenues miss by $224 million, taking FY24 shortfall to $446 million

    Higher than expected refund totals drove a $154.8 million shortfall in income tax collections compared to estimates for April, making up the bulk of an overall $224.4 million or 8.4% miss in tax revenues versus forecasts, according to preliminary data from the Office of Budget and Management.
  • May 10, 2024

    ODT Ohio Virtual Tax Academy offered May 15 & 16

    The Ohio Department of Taxation is offering its Ohio Virtual Tax Academy, a free event designed to provide tax-related information to small business owners, attorneys and accountants.