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OH HB573

Bill

Official Source

Status

Introduced

5/15/2024

Primary Sponsor

Phillip Robinson

Click for details

Origin

House of Representatives

135th General Assembly (2023-2024)

AI Summary

  • Increases the proportion of state tax revenue allocated to the Local Government Fund from 1.7% to 3.68% of total tax revenue credited to the general revenue fund
  • Effective date of July 1, 2026 for the increased allocation rate
  • Director of budget and management shall credit the Local Government Fund monthly on or before the seventh day of each month
  • Maintains existing provisions for the Public Library Fund at 1.7% allocation and money distribution requirements under sections 5747.50, 5747.503, and 5747.47 of the Revised Code
  • Director of budget and management shall develop and may revise a schedule identifying specific tax revenue sources for the monthly transfers

Legislative Description

Increase state tax revenue allocated to Local Government Fund

Finance and Appropriations

Last Action

Referred to committee: Finance

5/21/2024

Committee Referrals

Finance5/21/2024

Full Bill Text

No bill text available