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Senate committee hears support for reauthorizing Ohio Public Works bond program
Summary
Senate Finance Committee heard proponent testimony supporting Senate Joint Resolution 4 to reauthorize the State Capital Improvement Program (SCIP) administered by the Ohio Public Works Commission (OPWC), proposing a $2.5 billion, 10-year authorization and raising annual bond issuance from $200 million to $250 million. Witnesses stressed local infrastructure needs and inflation pressures; no committee vote was taken.
The Ohio Senate Finance Committee heard widespread proponent testimony supporting Senate Joint Resolution 4 on renewing the State Capital Improvement Program administered by the Ohio Public Works Commission.
Sponsors told the committee SJR 4 would propose amending Section 2T of Article VIII of the Ohio Constitution to allow the state to issue general obligation bonds to fund local infrastructure. The resolution seeks a $625,000,000 increase over current authorization for a total $2,500,000,000 in borrowing authority over a 10-year period and would cap annual bond issuance at $250,000,000. Sponsor testimony said bond retirement would be planned through the state…
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