Changes Ohio small business owners need to know.
After going beyond the deadline, the Ohio Transportation Budget is passed and has been signed by Gov. Mike DeWine. The Ohio House of Representatives passed the bill by a margin of 70-27 and cleared the Ohio Senate by a vote of 22 to 10. While Governor DeWine had the ability to line-item veto provisions he did not approve of, he did not choose to do so. The tax increases will annually provide $865 million in new dollars. That amount is divided with 55% going to the state of Ohio and 45% going to local governments. All these funds are dedicated solely to roads and bridges in the state, either maintenance or new construction.
The budget includes:
– A 10.5 cent hike per gallon in the gas tax, begins July 2019
– A 19 cent per gallon hike for diesel fuel, begins July 2019
– As of July 1, 2020, the front license plate will not be required on Ohio
– A new annual fee of $200 for electric vehicles & a fee of $100 for hybrid vehicles (only those plugged in)
– It also limits local governments’ use of traffic cameras to catch speeding vehicles or drivers going through red lights
– Creates Ohio’s Road to Our Future Joint Study Committee (made up of lawmakers from the House & Senate), who will study gas tax alternatives and transportation funding issues
– Provides $70 million a year for mass transportation
– The Ohio Earned Income Tax Credit increases and a tax credit cap on taxpayers with incomes above $20,000 is removed
The newspapers from across Ohio each have their recap of the budget below:
The Columbus Dispatch: https://www.dispatch.com/news/20190402/ohio-legislature-approves-105-cent-gas-tax-increase-19-cents-for-diesel
The Cincinnati Enquirer:
The Cleveland Plain Dealer:
The Toledo Blade:
