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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:

  • Apr 07, 2024

    Week in Review: April 7, 2024

    Gov. Mike DeWine announced Friday that he has initiated several federal and state disaster aid mechanisms that could bring financial relief to Ohioans affected by severe weather last month. The action comes after a damage assessment conducted by the Federal Emergency Management Agency (FEMA) in the 11-county area affected by tornadoes that occurred in March.
  • Apr 05, 2024

    ODT provides several updates ahead of April 15 deadline

    The Ohio Department of Taxation (ODT) recently announced extended service hours for the remainder of the income tax filing season (in addition to normal business hours). The ODT’s income/school district income tax phone lines at 800-282-1780 will be open until 7:00pm (instead of 5:00pm) on April 10, April 11, April 12 and April 15.
  • Apr 05, 2024

    Beneficial Ownership Information update

    The Ohio Society of sbf111胜博发 and all state CPA societies joined an AICPA letter to FinCEN on April 3 raising concerns with the rollout of the Beneficial Ownership Information reporting requirements.
  • Mar 22, 2024

    Ohio General Assembly election recap: Five House incumbents lose primary elections; senators fend off challengers

    Four incumbent Republicans who voted for House Speaker Jason Stephens (R-Kitts Hill) over caucus pick Derek Merrin (R-Maumee) lost their seats in Republican primaries Tuesday, despite heavy spending by the Stephens-led Ohio House Republican Alliance (OHRA) to defend them.
  • Mar 22, 2024

    Week in Review: March 24, 2024

    Intel's projects in Ohio and three other states will receive up to $8.5 billion in combined funding through the CHIPS and Science Act, according to a Biden administration announcement Wednesday that received widespread praise from Ohio leaders.