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 Passed by the Senate
Primary Sponsors: Sens. Chavez and Johnson
Effective date:
Meredith Bray, Attorney
SUMMARY
 Includes active duty service members as eligible participants in the homeownership savings
linked deposit program.
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
HISTORY
Action Date
Introduced 05-01-24
Reported, S. Community Revitalization 06-26-24
Passed Senate (31-0) 06-26-24
ANSB0257PS-135/ts
1 R.C. 135.71.
June 27, 2024


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