State Senator Larry Obhof (R–Medina) today joined Governor John R. Kasich at Anton Grdina Elementary School in Cleveland for the ceremonial signing of House Bill 483, which accelerates the implementation of the state’s 10% income tax reduction passed by the legislature last year.
“Over the past year and a half, we have cut taxes in Ohio by nearly $3 billion,” said Obhof. “House Bill 483 will help Ohio taxpayers keep more of their hard-earned money.”
House Bill 483 updates Ohio’s two-year operating budget and speeds up the phase-in period for the state’s planned 10% income tax cut. The bill also temporarily increases the small business income tax deduction from 50% to 75% (for tax year 2014).
The event also highlighted the Community Connectors program, which will provide $10 million for mentorship programs in schools across Ohio. The grants will support effective and sustainable programs designed to connect adults, businesses, community groups, and faith-based organizations with students.
Community Connectors is modeled after a successful program operated by the United Way in partnership with Cleveland schools.
House Bill 483 became effective immediately after the Governor officially signed the bill earlier this week.