Ohio Bill Could Mean Tax Savings For Students

COLUMBUS, Ohio (AP) - A bill awaiting Gov. John Kasich's signature would allow Ohio college students to use grant money for their room and board tax-free.

The Columbus Dispatch reports current Ohio law says student Pell Grants or Ohio College Opportunity Grants are subject to income taxes if the money is used for living expenses and not tuition, fees and books. A bipartisan measure that cleared the Legislature last week would make room, board and meal plans tax-exempt, too.

The change could cost the state millions of dollars, according to the nonpartisan Legislative Service Commission.

(Copyright 2011 by The Associated Press. All Rights Reserved.)

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