OH HB492

Creates Supplemental State Capital Improvements Pilot Program funded by transfers from the Budget Stabilization Fund, with a maximum of $200 million transferable per fiscal year.

Establishes new supplemental state capital improvements fund in state treasury, comprised of budget stabilization fund transfers, 50% of investment earnings from the budget stabilization fund, and loan repayments from local subdivisions.

Director of Ohio Public Works Commission approves requests for low-interest or interest-free loans and grants to local subdivisions for capital improvement projects including roads, bridges, airports, water systems, broadband expansion, and other infrastructure.

Creates grant account within supplemental fund to be funded exclusively by investment earnings and loan repayments, with grants provided only from this account.

Program terminates five years after effective date, with remaining fund balance and loan repayments transferred back to the Budget Stabilization Fund.