Ohio House Passes Resolution Urging Preservation Of Tax-Exempt Status Of Municipal Bonds
Financing tool helps local governments fund infrastructure improvements

State Representative Robert Sprague (R-Findlay) applauded today’s Ohio House passage of House Concurrent Resolution 7, a measure that urges the president and the United States Congress to preserve the tax-exempt status of municipal bonds.

The resolution expresses opposition to any push that eliminates or limits the federal tax exemption on interest earned on municipal bonds, which are critical for local governments to raise the funds needed to finance infrastructure projects.

“We want to protect Ohio cities, counties, and schools from a federal tax grab that would raise their debt interest cost,” said Sprague, who sponsored the resolution.

This comes in response to occasional attempts by the president and Congress to either tax or alter the federal exemption of interest earned on the bonds. At a time when building and improving infrastructure is required to meet federal mandates and support economic development, HCR 7 aims to preserve a financing tool that excludes interest on state and local obligations from federal gross income.


Featured Posts

State Rep. Sprague's Bill Prohibiting Mandatory Overtime For Hospital Nurses Clears Ohio House


COLUMBUS—State Representative Robert Sprague (R-Findlay) applauded the House passage of legislation he sponsored that prevents Ohio nurses from being forced to work mandatory overtime. Introduced in December of 2017, House Bill 456 seeks to protect nurses from being compelled to work overtime shifts under threat of discontinued employment or disciplinary action.


Sprague Highlights Findings Of House Rx Addiction Study Committee


The chairman of the Ohio House Prescription Drug Addiction and Healthcare Reform Study Committee, Robert Sprague (R-Findlay), has begun to discuss details of the findings and recommendations recently released as part of the committee Chairman’s Report.


Representative Sprague Encourages Constituents To Submit Online Legislative Survey


State Representative Robert Cole Sprague (R-Findlay) has set up an online legislative survey in an effort to gain feedback from the residents of the 83rd Ohio House District regarding a variety of state issues. The survey can be accessed at http://tinyurl.com/SpragueSurvey2013.