The bill amends various sections of the Ohio Revised Code to enhance the management and oversight of public funds, particularly focusing on the responsibilities of the Treasurer of State. Key changes include the introduction of definitions for "active deposit" and "interim deposit," aligning them with existing definitions in section 135.01, and clarifying that the Treasurer is not responsible for investment decisions made by fund owners or administrators. The bill also establishes that active deposits must be kept in designated depositories and outlines procedures for investing interim deposits. Additionally, it introduces new provisions for the investment of public moneys by subdivisions and state entities, including requirements for authorized signers and the establishment of investment management agreements. The bill mandates the Treasurer to adopt rules for investment pools and ensures liability for any losses of public moneys.

Furthermore, the bill creates a legal aid fund and a medical quality assurance fund, detailing their management and investment. It also proposes amendments to the structure of a commission overseeing financial management in local governments during fiscal emergencies, emphasizing the appointment of members with relevant financial experience. The bill includes provisions for the issuance and management of state obligations for capital projects, allowing for flexibility in financial transactions and ensuring compliance with updated regulations. Notably, it replaces references to section 135.45 with section 113.07 of the Revised Code, streamlining the legal framework governing the investment of special funds. Overall, the bill aims to improve the efficiency and clarity of financial management practices within the state.

Statutes affected:
As Introduced: 113.05, 113.051, 113.09, 113.13, 113.16, 113.40, 113.78, 118.05, 120.52, 131.01, 131.50, 135.01, 135.03, 135.032, 135.14, 135.143, 135.18, 135.22, 135.35, 135.45, 135.451, 135.71, 151.01, 164.09, 183.51, 317.36, 319.63, 321.46, 321.47, 1557.03, 2969.13, 3109.14, 3307.12, 3334.08, 3334.11, 3705.242, 3737.945, 3953.231, 4511.19, 4705.09, 4705.10, 5528.54, 5725.22, 5725.23, 5729.05, 5729.10, 5739.17, 5747.51, 6101.51, 113.07, 113.06, 113.10, 113.43, 135.144