COLUMBUS – The Ohio House of Representatives today passed House Bill 110, the House’s version of Ohio’s two-year budget plan. State Representative Ron Ferguson (R-Wintersville) voted in support of the bill. Among various aspects, the bill provides much-needed tax relief, including a two percent income tax cut to Ohioans and removes taxes on precious metals.
“I was proud to vote in support of House Bill 110 in session today,” said Ferguson. “The bill, although complex, provides opportunities for Ohio’s families and businesses to thrive. With a two percent income tax cut and expanded broadband services, I can confidently say the 96th House District will benefit from the funds allotted to the various programs outlined in the budget bill.”
House Bill 110 creates the Fair School Funding plan, a fair plan to all of Ohio’s public schools. The Fair School Funding Plan is the result of more than three years of work by educators and policymakers with a formula that is predictable, sustainable and transparent.
The legislation also includes a two percent income tax rate cut across the board, which will reduce taxes and withholding amounts by approximately $380 million over the course of the biennium. Coupled with recently passed legislation conforming Ohio’s tax code to federal law, the House has provided nearly $500 million in personal income tax cuts this biennium. The bill also reinstates the sales and use tax exemptions for sales of investment metal bullion and investment coins and establishes greater government oversight and accountability to ensure that state resources are being spent reasonably and used in a manner consistent with the intent of the General Assembly.
Additionally, the bill support jobs and Ohio’s economy through targeted investments to support job retention and creation, workforce training and economic development efforts. It allocates $200 million for the House’s broadband expansion package, House Bill 2, which Ferguson supported earlier this year. It also provides $3.6 million to support economic development programs and job creation efforts at Department of Defense facilities in Ohio.
The bill supports law enforcement, firefighters and public safety by funding a series of initiatives to support those who protect and serve Ohioans every day. Some of these initiatives include the following:
- $26 million for Recovery Ohio Law Enforcement to support anti-narcotics efforts
- $24 million for safety grants for schools
- $15 million for a one-year police training pilot program to assist law enforcement agencies with training costs
- $10 million for grants to small fire departments for equipment and training
- $10 million for grants to state and local law enforcement agencies to implement or enhance body-worn camera programs
House Bill 110 also appropriates $155 million in grants for industries negatively impacted by the COVID-19 pandemic, including newly formed businesses. Grants from this funding will be available in the fiscal year beginning July 1. The grants include the following:
- $100 million for bars and restaurants
- $25 million for the lodging industry
- $20 million for indoor and outdoor entertainment venues
- $10 million for new businesses
The above are highlights of the very complex bill. More information on House Bill 110 can be found at https://www.legislature.ohio.gov/legislation/legislation-summary?id=GA134-HB-110. The bill now heads to the Senate for consideration.