summary
Introduced
01/23/2024
01/23/2024
In Committee
Crossed Over
Passed
Dead
12/31/2024
12/31/2024
Introduced Session
135th General Assembly (2023-2024)
Bill Summary
To amend sections 122.17, 122.66, 323.151, 3317.021, 3318.011, 5747.02, 5747.10, 5748.01, and 5751.02 of the Revised Code to phase-out the state income tax on nonbusiness income over six years and to repeal the commercial activity tax after 2029.
AI Summary
This bill proposes to phase out the state income tax on non-business income over six years and repeal the commercial activity tax after 2029. Specifically, the bill would gradually reduce the state income tax rate on non-business income, with the tax being fully phased out by 2029. Additionally, the commercial activity tax, which applies to businesses doing business in Ohio, would be repealed after 2029.
Committee Categories
Budget and Finance
Sponsors (2)
Last Action
Senate Ways and Means S., 1st Hearing, Sponsor (15:30:00 11/20/2024 South Hearing Room) (on 11/20/2024)
Official Document
bill text
bill summary
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bill summary
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bill summary
| Document Type | Source Location |
|---|---|
| State Bill Page | https://www.legislature.ohio.gov/legislation/135/sb216 |
| Fiscal Note - As Introduced | https://www.legislature.ohio.gov/download?key=22817&format=pdf |
| Analysis - As Introduced | https://www.legislature.ohio.gov/download?key=22275&format=pdf |
| BillText | https://search-prod.lis.state.oh.us/solarapi/v1/general_assembly_135/bills/sb216/IN/00/sb216_00_IN?format=pdf |
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