County Treasurers Recognize Wilson for Work to Ease Restrictions On Local Investments
COLUMBUS—State Senator Steve Wilson
(R-Maineville) recently received recognition from County Treasurers Association of Ohio (CTA) for his work to alleviate restrictions put on the types of investments that can be made by county treasurers, ultimately giving them greater authority and flexibility to invest.
“It was a pleasure working with the CTA on this important piece of legislation that gives county treasurers a chance to increase portfolio yields with very minimal risk,” said Wilson. “We are already seeing a positive impact on communities across Ohio by providing a new means to generate local funds without raising taxes.”¿
Treasurers who take advantage of this increased flexibility will have the potential to generate additional revenue using a new category of investments.
The bill alleviates restrictions by providing county treasurers with the option to invest in bonds that are rated in the top three credit categories, adding A rated corporate bonds as an investment option for counties. This legislation would also expand the allowable maturity of securities from two to three years.Senate Bill 163
became effective in September 2018.