Representative Greenspan Introduces House Bill 251
House Bill 251 grants political subdivisions more autonomy in their investment ability
June 05, 2017
[ Dave Greenspan Home | Dave Greenspan Press ]

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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