Innovation Ohio Education Fund's latest policy brief looks into House Bill 617, legislation that would completely exempt certain types of capital gains income from taxation.

Key findings:

• Capital gains are profits made from selling an asset – like investment properties, stocks, or a business interest. 

• Most working Ohioans don’t have significant taxable income from capital gains. 

• House Bill 617 would eliminate the tax on capital gains. It would primarily benefit Ohio’s wealthiest residents. 

• The legislation would drain $646 million Ohio’s budget in 2027 and $680 million in 2028 – likely forcing cuts to public schools, libraries, parks, safety services and other public programs. 

• The bill would also reduce revenue for 146 school districts across Ohio that levy a school district income tax, with no replacement identified.

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