Senate Bill 208

To amend sections 9.66, 122.16, 122.172, 122.173, 5709.65, 5709.66, 5709.92, 5733.33, 5733.42, 5733.98, 5747.01, 5747.02, 5747.05, 5747.054, 5747.055, 5747.056, 5747.059, 5747.21, 5747.212, 5747.22, 5747.27, 5747.28, 5747.29, 5747.331, 5747.37, 5747.65, 5747.66, 5747.71, 5747.75, 5747.76, 5747.80, 5747.81, 5747.98, and 5751.01, to repeal sections 5733.48, 5747.051, 5747.057, 5747.26, 5747.261, 5747.31, 5747.32, 5747.34, 5747.35, 5747.36, 5747.38, 5747.39, and 5747.77 of the Revised Code, and to amend Section 263.325 of Am. Sub. H.B. 64 of the 131st General Assembly to modify the commercial activity tax exclusion for receipts from the sale of certain consumer products within an integrated supply chain, to make technical changes to the state income tax law, to provide that, for the 2015 taxable year, any taxable business income under $125,000 for married taxpayers filing separately or $250,000 for other taxpayers is subject to graduated tax rates similar to those applicable to nonbusiness income, while business income in excess of those amounts remains subject to the existing 3% flat tax, to modify the formula for calculating reimbursement payments to school districts for their loss of tangible personal property tax revenue, and to establish a formula for making supplemental foundation aid payments to school districts in fiscal year 2017.