Fiscal responsibility is a top priority for the Ohio legislature, and that not only means wise spending habits, but investing our money wisely as well.  The financial market is continually changing, and in the past ten years especially, we have seen significant shifts.  Ohio is keeping up with the times and is spending and investing in a manner that is responsible and considerate of the tax payer dollar.


Effective earlier this month, Senate Bill 287, sponsored by Senator Hughes, modifies the investment authority of the Treasurer of State as well as the investment authority of political subdivisions.  Through this legislation, the Treasurer of State has the authority to invest in certain high rated bonds and notes issued by Ohio political subdivisions and other states, and their political subdivisions. Additionally, in order for investments in these types of bonds and notes to be made, they must be rated in the three highest categories by a nationally recognized standard rating service. To ensure the increase and safety of investments, Senate Bill 287 requires additional training, through the supervision of the Treasure of State, for all public finance officers that intend to use the expanded investment opportunities. Senate Bill 287 brings Ohio’s investment policies into the 21st Century by allowing state and local governments greater options for secure investments.


A new investment option known as STAR plus is being well received by more than 600 local entities, which have seen more than $4.2 million in interest. This keeps money in community banks while increasing yields through federally insured bank deposits. Ohio is the first and only state to make this type of investment option available to local governments.


Senate Bill 287 and STAR Plus bring our investment standards up to date and continue to ensure the security of these funds. Ohio is seeing a bigger return in investment and our citizens can be assured that their tax dollars are being spent and invested with great care.

 
 
 
  
Featured Posts

Reps. Retherford And Conditt Introduce Legislation Increasing Penalties For Drug Dealers

 
COLUMBUS - 

State Representatives Wes Retherford (R-Hamilton) and Margaret Conditt (R-Liberty Twp.) today announced that they have introduced legislation that will increase the penalties for those who knowingly sell illegal substances to pregnant women.



 
 

Retherford And Dovilla Introduce Ohio Elder Justice Act

 
COLUMBUS - 

State Representatives Wes Retherford (R-Hamilton) and Mike Dovilla (R-Berea) today held a press conference with Ohio Attorney General Mike DeWine to discuss the Ohio Elder Justice Act, recently introduced legislation that aims to protect older Ohioans from abuse and financial exploitation.



 
 

Wes Retherford Sworn In As State Representative Of The 51st House District

 
COLUMBUS - 

State Representative Wes Retherford (R-Hamilton) today was sworn in as a member of the Ohio House of Representatives for the 130th General Assembly. He represents the 51st Ohio House District, which includes portions of southern Butler County.