On February 4, 2013, Ohio Governor John Kasich released the framework for his FY 2014-2015 state biennial budget. The nearly $63 billion budget, which will be formally introduced in the coming days, funds all state agencies and provides the framework for a series of policy, tax, revenue and expenditure reforms.
Among the major policy provisions is a reformed funding model for Ohio’s K-12 education system, tax reform — including a proposed cut in the Ohio income tax, as well as reforms to Ohio’s Medicaid program, transportation and infrastructure expenditures, and the combination and/or elimination of several smaller state agencies and departments. The budget will initially be introduced in the Ohio House of Representatives, with the Ohio Senate expected to debate the legislation later this spring.
The budget is mandated to be balanced and complete not later than June 30, 2013.