Senate passes Peterson bill saving Ohio taxpayers millions of dollars

COLUMBUS – The Ohio Senate this week gave approval to Senate Bill 2, sponsored by State Senator Bob Peterson (R–Washington Court House), which incorporates recent changes in the federal tax code into Ohio’s income tax law.

The legislation will ensure Ohioans have access to available tax credits and will save taxpayers approximately $22 million.

“As Ohioans gear up for the 2015 tax season, it’s imperative that we make sure they have access to every possible dollar and credit they are entitled to,” said Peterson. “This bill provides the necessary updates to make sure no one pays more taxes than are required.”

The legislation was written as an emergency measure so to give Ohioans the ability to take advantage of the credits beginning this tax year.

Senator Peterson serves as the Chairman of the Senate Standing Committee on Ways and Means, the influential panel charged with oversight of Ohio’s tax code.

Senate Bill 2 will now be delivered to the Ohio House of Representatives for further deliberation.

Senator Bob Peterson represents the 17th District in the Ohio Senate, which encompasses all or part of Clinton, Fayette, Gallia, Highland, Jackson, Lawrence, Pickaway, Pike, Ross, and Vinton counties.