North Columbus News

In early February, Governor Mike DeWine presented the details of the two-year state operating budget through House Bill (HB) 96. This legislation is set to fund state government operations until 2027 and stands as a significant bill for lawmakers this session.

HB 96, comprising over 4,000 pages, includes numerous policy changes with appropriations amounting to $108 billion for Fiscal Year 2026 and $110 billion for Fiscal Year 2027. The Ohio House of Representatives has commenced hearings on the bill and plans to report it out by mid-April. Following this, the Senate will conduct its hearings and aims to pass the measure in June. The deadline for both chambers to pass the bill and for it to be signed by the Governor is June 30, 2025.

Ohio REALTORS' legislative team is currently examining the budget provisions alongside the Legislative Steering Committee to assess their impact on Ohio's housing industry. Key provisions under review include:

- Historic Owner-Occupant Tax Credit: A new refundable income tax credit for rehabilitating historic owner-occupied homes is proposed. Additionally, there is an increase in the annual cap on the Ohio Historic Building Preservation Tax Credit from $60 million to $120 million per fiscal year.

- Ohio Housing Investment Opportunity Program: This initiative introduces a $100 million investment aimed at promoting affordable housing in rural and border counties within the Department of Development.

- Lead Abatement Tax Credit: The maximum tax credit issued by the Ohio Department of Health for lead abatement is proposed to increase from $10,000 to $50,000.

- Welcome Home Ohio Program: Continued funding is planned for this program that was established in the last budget cycle, providing resources for constructing and rehabilitating single-family homes.

- Brownfield Remediation Program: The bill suggests substantial reductions in funding for this program which has aided communities across Ohio in rehabilitating blighted properties.

- Board of Building Standards (BBS): Provisions allow BBS to create a grant program assisting local building departments with recruiting, training, and retaining qualified personnel. It also permits BBS to establish rules enabling local departments to use third-party plan examiners and inspectors under specific guidelines.

As HB 96 progresses through legislative procedures, Ohio REALTORS remains committed to monitoring these provisions while advocating policies beneficial to real estate professionals and property owners across Ohio. Updates will follow as developments occur.

For further information on this legislation:

Ohio Legislature | 136 General Assembly | House Bill 96