Representative Peter Beck (R-Mason), Chairman of House Ways and Means Committee, has decided to host further hearings over the summer on legislation that seeks to modify Ohio’s municipal income tax code. House Bill 5 has been the source of numerous interested party meetings and constant discussion between municipalities and several business oriented groups. There remain significant issues, including the net operating loss, occasional entrant, treatment of pass through entities and senior executive retirement plans. The Chairman is compiling a compromise bill that he intends to vet through a hearing process over the summer. It is very likely that some version of House Bill 5 will pass early this fall.