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OH HB617

Bill

Official Source

Status

Introduced

12/1/2025

Primary Sponsor

Tom Young

Click for details

Origin

House of Representatives

136th General Assembly

AI Summary

  • Exempts all net capital gains (as defined in Internal Revenue Code section 1222) from Ohio state income taxation for individuals
  • Exempts capital gains from municipal income taxation by excluding net capital gains from the calculation of municipal taxable income for both residents and nonresidents
  • Repeals section 5747.79 of the Ohio Revised Code, which previously provided a partial capital gains deduction tied to specific qualifying criteria and payroll thresholds
  • Applies to taxable years ending on or after the effective date of the act
  • Requires the Director of Budget and Management to submit a fiscal impact report by June 30, 2027, analyzing effects on tax revenue and taxpayer behavior

Legislative Description

Enact the Ohio Capital Gains Tax Repeal Act

Taxation

Last Action

Referred to committee: Ways and Means

2/4/2026

Committee Referrals

Ways and Means2/4/2026

Full Bill Text

No bill text available