HB 3, sponsored by Rep. Latta, and HB 4, sponsored by Rep. Wolpert, are two competing bills in the Ohio House which will cut or eliminate Ohio estate tax. A recent Plain Dealer article described the two bills as follows:
"A proposal from Rep. Bob Latta, R-Bowling Green, would eliminate the state's cut of the estate tax. Any local municipality wishing to continue receiving its share of the tax revenue would need voter approval to renew it. In addition, the proposal would exempt estates valued at or below $600,000 by 2010.
Republican Rep. Larry Wolpert of Columbus has a competing proposal. His bill would force the state to give its portion of the estate tax to local governments and also allow municipalities to decide whether they want to opt out of their defined share. He would also raise the threshold of liability to $362,000."
House Republicans Want to Cut or Eliminate Ohio Estate Tax by Matt Leingang, Associated Press, The Plain Dealer, Feb. 14, 2007.