Save the Dream Ohio bill would reinstate homeowner assistance program, cap grants at $3,000

Senators Tim Craig and Michelle Reynolds told the Senate Finance Committee on Oct. 29 they co-sponsored Senate Bill 255 to reinstate the Save the Dream Ohio program at the Ohio Housing Finance Agency (OHFA) to provide targeted grants to homeowners facing mortgage, property tax and utility hardship.

"This legislation reinstates the Save the Dream Ohio program...to provide grants to homeowners struggling with mortgage, property tax, and utility costs," Senator Craig said. Under the bill eligible Ohio homeowners would have adjusted gross incomes of $75,000 or less and be age 65 or older, living with a disability, or caring for someone with a disability. Eligible households may receive up to $3,000 per year to cover qualifying expenses.

Craig said the program would be funded with up to $10,000,000 from existing OHFA resources and is intended as a fiscally responsible stopgap while the General Assembly pursues longer-term property-tax reforms. Senator Reynolds called the program "a lifeline" for responsible homeowners priced out of their homes by rising property taxes, insurance and utility costs, and emphasized that the bill uses OFA resources rather than new taxes or expanded government programs.

Committee members did not record a vote on the bill at the first hearing. Sponsors said the program builds on prior Save the Dream Ohio work and provides short-term relief while broader structural reforms are considered.