The Ohio Department of Taxation (ODT) has posted its certification for the Public Library Fund (PLF) for calendar year 2017 (CY17). The statewide total estimate for CY17 is $395.1 million, which is a 4.32% increase over the current estimate for CY16.

According to ODT, these figures are based on the latest data available from ODT and the Office of Budget and Management (OBM). OBM is expected to release its updated state revenue estimates for Fiscal Year (FY) 2017 in the next two weeks when the monthly financial report for August is released. ODT will update the CY17 estimates again in December 2016 as required by law.

Keep in mind that these figures are estimates and based on current state law. Under current state law, the PLF receives 1.7% of all state General Revenue Fund (GRF) tax sources until June 30, 2017. The temporary law rate of 1.7% then reverts back to 1.66% on July 1, 2017 – which is in permanent law – unless it is changed in the next state budget for the FY18-19 biennium.

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Please contact Michelle Francis, OLC Director of Government and Legal Services if you have any questions.