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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