Governor Mike DeWine signs state budget

The final version of the $90.5 billion biennial budget included several spending and policy priorities of the administration and legislature, including transferring $1.7 billion from the state's unclaimed funds for a new Professional Sports Stadium Fund, K-12 school funding, changes to Medicaid and hospital financing and cutting Ohio's top personal income tax brackets to create a 2.75% flat tax.

Shortly after signing the bill, the Governor released his veto message, which included a record 67 line item vetoes that removed targeted provisions from the enacted version of the bill. Legislative Republican leaders indicated that they plan to discuss with their respective caucuses the potential of veto overrides, which would require a three-fifths majority in both chambers.

With the governor's signature and vetoes finalized, the following are some of the key higher education highlights in the new spending plan:

• 1% increase in each fiscal year for the State Share of Instruction (SSI), including a new $100 million set-aside each year to reward universities for employment and wage outcomes of graduates and $75 million in FY 27 for Senate Bill 1 compliance
• More than $430 million over the biennium to fund the Ohio College Opportunity Grants, the state's need-based aid program
• Nearly $120 million over the biennium to continue the phase-in of the Governor's Merit Scholarships, which provides a $5,000 annual scholarship to Ohio students who graduate in the top 5% of their high school class
• $15 million to support OSU College of Veterinary Medicine, which represents a $10 million annual increase over previous funding levels, to phase-in an increase in the OSUCVM's enrollment of Ohio students
• $37.2 million and $25.5 million each year to support CFAES' agricultural research and OSU extension respectively
• $8.5 million each year to support the operations of the Chase Center for Civics, Culture, and Society