Title
A RESOLUTION STRONGLY OPPOSING THE PASSAGE OF HB 5 BY THE OHIO GENERAL ASSEMBLY WHICH PROPOSES UNIFORMITY MEASURES FOR MUNICIPAL INCOME TAX IN THE FORM OF UNFUNDED MANDATES CAUSING A SUBSTANTIAL LOSS OF REVENUE AND THE DECLARATION OF AN EMERGENCY
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WHEREAS, the Municipal Income Tax Uniformity Coalition, headed by the Ohio Society of CPA's, with business community membership including the Ohio Chamber of Commerce, with support from Representative Grossman, Representative Henne and Representative Barnes, met with members of the Ohio Municipal League and municipal income tax representatives; and
WHEREAS, the purpose of these Interested Parties meetings was to achieve consensus on issues regarding municipal income tax uniformity for the inclusion in legislation; and
WHEREAS, municipalities agree that revenue neutral uniformity on issues that will ease compliance burdens for businesses in and potentially locating in Ohio would be of great benefit to all of Ohio; and
WHEREAS, the Coalition has drafted and introduced language that is detrimental to the financial stability of municipalities, will drastically reduce revenue for all municipalities in Ohio, and includes "unfunded mandates" which will cripple the ability for municipalities to provide basic services to residents and resident businesses alike; and
WHEREAS, the recent reduction in the Local Government Fund has resulted in an annual loss of $135,000 in revenue for the City of Groveport; and
WHEREAS, the elimination of the Estate Tax will result in an average annual loss of $121,000 in revenue for the City of Groveport; and
WHEREAS, the accelerated phase-out of promised reimbursement for the loss of revenues due to the repeal of the Tangible Personal Property Tax has resulted in an annual loss of $103,000 in revenue for the City of Groveport; and
WHEREAS, the proposals in HB 5 will result in an additional estimated annual loss of revenue of $75,500 for the City of Groveport; and
WHEREAS, HB...
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