House Budget Substitute Bill HB96:
The House Finance Committee adopted substitute bill HB96 yesterday after the chair, Rep. Stewart, and Speaker of the House, Rep. Huffman held a press conference to unveil the 4,491 page substitute bill. The proposed substitute bill will be heard in House Finance both today and tomorrow with an expected floor vote Wednesday, April 9th.
Disappointing to many proponents of the full phase-in of the Fair School Funding formula, this substitute bill would ensure that all traditional schools would receive the same or more funding in FY25. However, districts with large reserves would instead have levy rates reduced by the county budget commission. Additionally, the substitute bill is criticized as relying too heavily on property taxes (and thus tax payers). By reducing the tax rates in districts with large carryover balances, both Reps. Huffman and Stewart argue that this would provide property tax relief to Ohioans.
Disappointing to the world of gifted students, gifted professional development funds have not been reinstated in this version of the budget bill. We still have a long road before Governor DeWine makes the budget permanent and will provide updates along the way.