COLUMBUS—State Representative Marlene Anielski (R-Walton Hills) has announced that the Ohio House of Representatives passed Senate Bill 287, legislation which modifies the investment authority of the Treasurer of State, as well as the investment authority of political subdivisions.

The bill modifies the classifications of obligations in which the Treasurer of State,  or the treasurers of a political subdivision or board of education, can invest or execute transactions with interim monies, while also modifying the types of obligations in which those interim monies may be invested.  Additionally, it modifies the classifications of obligations that a county investing authority may invest in inactive monies and monies in the county library fund.

“The goal of the legislation is to continue on the path for us to have a healthy economy in Ohio,” said Rep Anielski.

S.B. 287, sponsored by Senator Jim Hughes (R-Columbus), also gives rulemaking authority to the State Board of Deposit for the implementation of the Uniform Deposit Act and changes the exemption from investment limits for the Deferred Prizes Trust Fund.

The bill will now move to the Senate for concurrence.

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