Budget director: Ohio's unused surplus about $397M - 21 News Now, More Local News for Youngstown, Ohio -

Budget director: Ohio's unused surplus about $397M

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COLUMBUS, Ohio (AP) - The state budget director has told a legislative committee that Ohio should have roughly $397 million in uncommitted funds left at the end of the current budget year.

The news comes as lawmakers head into final negotiations over Ohio's next 2-year budget.

Budget Director Tim Keen and legislative analysts delivered updated state revenue and Medicaid caseload projections to a six-member conference committee on Tuesday.

Keen told the panel that the governor believes the ending balance should be returned to taxpayers.

The two chambers have separate tax plans that must be reconciled. The Senate dropped a 7% statewide income tax reduction passed by the House in favor of small-business exemptions.

Lawmakers face a June 30 deadline to pass the almost $62 billion budget before the new fiscal year July 1.

Copyright 2013 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

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