HB 482 Summary

• Amends capital appropriations law and establishes the Higher Education Improvement Taxable Fund (Fund 7024) for non-tax-exempt higher education facility bonds, with proceeds credited alongside the existing Higher Education Improvement Fund.

• Appropriates $1.1+ billion across multiple capital funds for state agencies and higher education institutions, including $425 million for school building assistance, $369.7 million for higher education improvements, and $300 million for local infrastructure projects.

• Authorizes the Ohio Public Facilities Commission and Treasurer of State to issue approximately $1.2 billion in general obligation bonds across multiple categories (higher education, schools, parks, corrections, mental health, and local subdivisions).

• Creates new statutory authority for MARCS (Multi-Agency Radio Communications System) P25 digital communications standards compliance with $90 million lease-purchase financing authorization and establishes requirements for P25 system certification.

• Repeals section 3333.072 and makes technical amendments to sections 126.14, 151.01, 151.04, and 154.21 to implement the tax-exempt and taxable bond structure for higher education capital projects.