OHIO LEGISLATIVE SERVICE COMMISSION
Office of Research Legislative Budget
www.lsc.ohio.gov and Drafting Office
S.B. 257 Bill Analysis
135th General Assembly
Click here for S.B. 257’s Fiscal Note
Version: As Reported by House Economic and Workforce Development
Primary Sponsors: Sens. Chavez and Johnson
Effective date:
Meredith Bray, Attorney
SUMMARY
Homeownership savings linked deposit program
▪ Includes active duty service members as eligible participants in the homeownership savings
linked deposit program.
Ohio National Guard scholarship program
▪ Eliminates interest rate applied to repayments for the Ohio National Guard Scholarship
Program, if the recipient failed to complete their term of enlistment due to being in active
or reserve duty of the armed forces.
DETAILED ANALYSIS
Homeownership savings linked deposit program
The bill extends the existing homeownership savings linked deposit program to include
active duty service members as eligible participants. The program provides rate savings accounts to
be used for the down payment and closing costs associated with buying a home. Current law
requires an eligible participant for the homeownership savings linked deposit program to be an Ohio
resident and to have applied for a homeownership savings account at an eligible savings institution.
The bill would also include as eligible participants members of the uniformed services who are on
active duty assignment and are considered residents of Ohio via a residency or domicile election.
Eligible participants who are active duty members may apply for a homeownership savings account
on or after the date on the permanent change of station orders.1
 This analysis was prepared before the report of the House Economic and Workforce Development
Committee appeared in the House Journal. Note that the legislative history may be incomplete.
1 R.C. 135.71.
December 10, 2024
Office of Research and Drafting LSC Legislative Budget Office
Ohio National Guard scholarship program
The bill eliminates the interest rate of ten percent to be applied to repayments for Ohio
National Guard scholarship recipients who fail to complete their term of enlistment, re-enlistment,
or extension of enlistment in the Ohio National Guard, if that failure is due to the recipient’s
enlistment, warrant, commission, or appointment to an active duty or reserve component of the
armed forces of the United States. Current law requires the interest rate to be applied to all
repayments for recipients who fail to complete their term of enlistment, re-enlistment, or extension
of enlistment.2
HISTORY
Action Date
Introduced 05-01-24
Reported, S. Community Revitalization 06-26-24
Passed Senate (31-0) 06-26-24
Reported, H. Economic and Workforce Development ---
ANSB0257RH-135/ar
2 R.C. 5919.34(G).
P a g e |2 S.B. 257
As Reported by House Economic and Workforce Development


Statutes affected:
As Introduced: 135.71
As Reported By Senate Committee: 135.71
As Passed By Senate: 135.71