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Bill Summary · HB 48

Legislative bill overview

HB 48 modifies Ohio's state tax code to allow taxpayers to claim state income tax deductions for contributions made to 529 education savings plans and ABLE accounts (tax-advantaged accounts for individuals with disabilities). The bill expands who can benefit from these deductions and potentially increases the deduction amounts or eligibility criteria under Ohio law.

Why is this important

These accounts help families save for education and disability-related expenses with tax advantages. Expanding state-level deductions makes these savings tools more attractive to middle and lower-income Ohio residents, potentially increasing education access and financial security for disabled individuals. The change could reduce state tax revenue while incentivizing long-term savings behavior.

Potential points of contention

  • Revenue impact: The state foregoes tax revenue by allowing deductions, requiring offsetting budget cuts or tax increases elsewhere
  • Equity concerns: Tax deductions primarily benefit higher-income households who can afford to save; lower-income families may see limited benefit
  • Scope of expansion: Unclear whether the bill significantly broadens access or mainly benefits existing 529/ABLE users with modest additional tax relief

Compiled from official sources — confirm details with the bill’s official record.

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