To amend sections 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, and 6101.51; to amend, for the purpose of adopting a new section number as indicated in parentheses, section 135.45 (113.07); and to repeal sections 113.06, 113.10, 113.43, and 135.144 of the Revised Code relating to the Treasurer of State.
HB278 is a broad Treasurer of State cleanup and modernization bill. It revises many provisions across the Revised Code to update terminology, conform cross-references, and clarify the treasurer’s role in custody, safekeeping, investment, deposit, and disbursement of state and certain custodial funds. A central feature is the renumbering and expansion of the Ohio subdivision’s fund provisions, moving them to new section 113.07 and updating related statutes so local governments and certain state entities may continue to place public money with the treasurer of state for pooled or separately managed investment accounts.
The bill also makes a series of technical and policy adjustments to public-funds management. It updates rules for public depositories, collateralization, investment authority, financial transaction device payments, and continuing education requirements for county treasurers. It revises definitions and procedures for state and county investment portfolios, clarifies that certain retirement-system and other entity accounts are not public money for Chapters 113 and 135, and updates how interest earnings and fees are credited to various special funds. In addition, it touches a wide range of special-purpose funds and programs, including legal aid, housing trust, children’s trust, family violence prevention, medical quality assurance, and several bond-financing and trust arrangements.
The bill’s impact on state law is primarily administrative and structural rather than creating a new program from scratch. It amends dozens of statutes to align them with the Treasurer of State’s current functions, to update references to the new section numbering, and to remove obsolete provisions. It also expands or clarifies the treasurer’s authority to act as custodian or investment manager for certain funds, while preserving existing limits on permissible investments, collateral, and reporting. For counties and other subdivisions, the bill reinforces the framework for pooled investment participation, investment-policy requirements, and mandatory education for county treasurers.
The overall sentiment in the available record is neutral to favorable in a technical sense, but there is little direct evidence of debate because the bill was only introduced and had no recorded votes or committee transcript excerpts. Based on the text, the measure appears designed to streamline and modernize treasury administration rather than to advance a controversial policy change. The absence of recorded opposition or amendments suggests it was being treated as a housekeeping and fiscal-management bill at this stage.
The main points of potential contention, if any arise, would likely concern the scope of the treasurer’s authority over pooled investments, the use of outside custodians and financial institutions, and the compliance burden placed on county treasurers and local entities. Some provisions also touch on sensitive areas such as investment discretion, collateral requirements, and the handling of fees and interest earnings for special funds. However, no specific objections, supporters, or negotiated compromises are reflected in the available materials.
HB278 would amend a large number of Revised Code sections governing the Treasurer of State, public deposits, interim and custodial funds, county treasurer training, and related special funds. It renumbers the Ohio subdivision’s fund provision to new section 113.07, updates cross-references throughout the code, repeals obsolete sections, and clarifies which monies are treated as public money, active deposits, or custodial assets. The bill also affects local governments, state entities, depositories, and fund administrators by updating investment, safekeeping, reporting, and fee-crediting rules across multiple programs and funds.
The available record shows no committee testimony, no recorded votes, and no formal opposition or support statements. As introduced, the bill appears to be viewed as a technical and administrative cleanup measure focused on treasury operations, modernization, and statutory conformity. The overall sentiment is therefore best characterized as neutral and procedural, with no evident controversy in the materials provided.
No specific points of contention are documented in the available transcripts or vote history. Potential areas of concern inherent in the bill’s text include the Treasurer of State’s expanded custodial and investment administration role, the treatment of subdivision funds in pooled investment accounts, the new or revised training and compliance requirements for county treasurers, and the handling of fees, interest earnings, and collateral for public deposits. Because there is no recorded debate, it is not possible to attribute any objection to a particular legislator, agency, or stakeholder.