Tuesday, December 4, 2012

HB 510 Passes Senate Committee - Saving Ohio's 221 Community Banks $30M Annually

The Ohio Senate Ways and Means and Economic Development Committee passed HB 510 which will change the way Ohio's community banks are taxed. CBAO has been working closely with the General Assembly during the past year to get the bill enacted. The bill will bring fairness and equity to the way Ohio's financial institutions are taxed. It is expected the bill will be sent to the Ohio Senate for consideration on Wednesday, December 5, 2012.

CBAO would like to thank community bankers, Scott McComb and Jack Hartings for providing proponent testimony to the committee. We would also like to thank the many community bankers from around the state who attended committee meetings and contacted their Senators in support of HB 510.

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