Bill > SB256

This bill would modify the state's earned income tax credit and increase the state's minimum wage. Specifically, it would: 1. Increase the minimum wage in Ohio to $12 per hour in 2025, $13 per hour in 2026, $14 per hour in 2027, and $15 per hour starting in 2028, with future annual adjustments for inflation. Employers could pay a reduced minimum wage to certain employees, such as those under 16 years old or at small businesses with low annual gross receipts. 2. Allow employees to claim either a 30% nonrefundable state earned income tax credit or a 12% refundable credit (for those with a dependent under 3 years old) based on the federal earned income tax credit. The credit would be applied after other state tax credits. The bill also includes provisions related to employer record-keeping, employee access to their pay information, and enforcement mechanisms. The bill is declared an emergency measure to provide financial relief to Ohio employees.

Budget and Finance

https://www.legislature.ohio.gov/legislation/135/sb256