House Bill 26, sponsored by State Representatives Christina Hagan (R-Alliance) and Ron Maag (R-Lebanon), was voted favorably out of the House Ways and Means Committee yesterday.

HB 26 seeks to exempt from sales and use taxes the sale or use of investment metal bullion and collectable coins. The bill would seek to put Ohio on par with the 31 other states with exemptions for rare coins, currency and precious metals. 

“The sales tax that has been placed on these items has driven many small business owners out of shop or has dramatically impacted their ability to compete on large ticket items. Those who collect and invest in these items purchase them where the sales tax is lower or non-existent,” said Hagan. “I am passionate about this legislation because it is negatively impacting small business owners across the state.”

Rep. Hagan has worked extensively with her constituents in working on a solution to the problems associated with these taxes, and testified to the committee in March in regards to specific examples from her district.

State Representative Christina Hagan is currently serving her second term in the Ohio House of Representatives. She represents the 50th House District, which includes eastern Stark County.

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