Yesterday afternoon the Senate Finance Committee unveiled a substitute version of House Bill 59, the state biennial budget bill. The substitute legislation incorporates many changes, significant among which is the replacement of an across-the-board 7% income tax cut proposed in the House-passed version of the bill with a tax cut package specifically targeted at helping small businesses in Ohio.

The Senate Finance Committee is holding hearings on the substitute version of H.B. 59 the remainder of this week, and it is expected to consider additional amendments and hold a committee vote on the bill to send it to the Senate floor early next week.

Click here for a Summary of the changes in Substitute House Bill 59.

Click here for a copy of the LSC Comparison Document for House Bill 59.

Click here for a full copy of Substitute House Bill 59.