Representative Greenspan Introduces House Bill 251
House Bill 251 grants political subdivisions more autonomy in their investment ability
June 05, 2017
 
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COLUMBUS – State Representative Dave Greenspan (R-Westlake) today announced the introduction of House Bill 251, which expands the current five-year limit on political subdivisions investment ability, on a permissive basis, to a limit of 10 years.


Under this proposal, a political subdivision may purchase the debt of another subdivision for a longer period of time, which presents two distinct advantages for both the purchaser and seller:


• To the purchaser - political subdivisions purchasing the debt may have an opportunity to earn more investment income than on their traditional or current investments


• To the seller - political subdivisions selling their debt may pay less interest expense, resulting in savings to taxpayers


“House Bill 251 is a common sense, permissive piece of legislation that affirms a responsive and responsible form of government,” said Representative Greenspan.


The bill is currently awaiting notice for a first hearing in the House Committee of State and Local Government.     


 

 
 
 
  
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Representative Greenspan Sworn In As State Representative Of The 16th House District

 
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State Representative Dave Greenspan (R-Westlake) was sworn in yesterday as a member of the Ohio House of Representatives for the 132nd General Assembly. He represents the 16th Ohio House District, which includes Bay Village, Fairview Park, North Olmsted, Rocky River, and Westlake.