PUBLIC POLICY
The Partnership has undertaken work on federal and local policy issues including the American Rescue Plan Act of 2021, member-directed spending, U.S. Innovation and Competition Act of 2021, RAISE discretionary grants, the bipartisan infrastructure proposal and municipal income tax discussions. In addition, Partnership advocacy efforts during the second quarter were focused on the finalization of the state operating budget. Governor DeWine signed the two-year, $74 billion budget on June 30. The Columbus Partnership advocated on a number of items in the budget:
MEGAPROJECT LEGISLATION Megaprojects can now be authorized for important tax incentives that are necessary to compete with other states. A megaproject is an economic development project that either includes $1 billion in capital investment or $75 million in payroll. Throughout the legislative process, the Partnership advocated for the megaproject language, which was added to the budget during the conference committee.
CAPITAL GAINS INCOME TAX DEDUCTION Throughout the past year, the Partnership has been advocating for a venture capital gains income tax deduction in order to attract the workforce needed for Ohio to thrive. The Senate had removed the language regarding capital gains that the House passed, but the final version of the budget included the venture capital gains income tax deduction. 10
