State Fiscal Highlights
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STATE FUND |
FY 2010 |
FY 2011 |
FUTURE YEARS |
|
Ohio Historical Society Income Tax Contribution Fund (created by the bill) |
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Revenues |
Possible gain |
Possible gain |
|
|
Expenditures |
Possible increase |
Possible increase |
Possible increase |
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Litter Control and Natural Resource Tax Administration Fund (Fund 4370) |
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Revenues |
Possible gain |
Possible gain |
Possible gain |
|
Expenditures |
Possible increase |
Possible increase |
Possible increase |
|
Note: The state fiscal year is July 1 through June 30. For example, FY 2010 is July 1, 2009 – June 30, 2010. |
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· The bill creates an additional check-off on the personal income tax form for the Ohio Historical Society.
· Additional costs to the Department of Taxation to administer the income tax check‑off system, up to 2.5% of contributions, would be paid out of those contributions.
Local Fiscal Highlights
· No direct fiscal effect on political subdivisions.
Detailed Fiscal Analysis
The bill allows taxpayers to direct a portion of income tax refunds due to them to the Ohio Historical Society. The refunds would be paid into the Ohio Historical Society Income Tax Contribution Fund created by the bill. Additional contributions directly to this fund by any persons are also permitted. The Ohio Historical Society is to use money credited to the fund for the public functions established for the Society by section 149.30 of the Revised Code.
The income tax check-off for the Ohio Historical Society would become the fourth check-off on the state's personal income tax form. One-fourth of costs to the Department of Taxation to administer the income tax check-off system, up to 2.5% of total contributions, would be transferred from the Ohio Historical Society Income Tax Contribution Fund to the Litter Control and Natural Resource Tax Administration Fund (Fund 4370).
