Ohio Society scores major lawsuit abuse reform victory.

• Position: Breaking News

The Ohio Society of CPAs scored a major legislative victory when the Ohio General Assembly passed meaningful lawsuit abuse reform, Am. Sub. SB 80, which will greatly improve the business environment in Ohio while protecting the rights of the injured.

The legislation makes significant reforms to Ohio's civil justice system and ensures that both plaintiffs and defendants will be treated fairly in the courts. The legislation will:

* Cap non-economic damages for non-catastrophic injuries.

* Establish limits on punitive damage awards tied to compensatory damages.

* Allow the consideration of collateral sources of income by juries.

* Set statute of repose (time limits) for lawsuits, product liability and some construction suits.

Passage of the bill, which represents almost two years of work on the part of The Ohio Society of CPAs, will enable Ohio to reclaim its...