H.B. No. 499 Summary

• Creates the Supplemental State Capital Improvements Pilot Program to provide low-interest or interest-free loans and grants to local subdivisions for capital improvement projects managed by the Ohio Public Works Commission.

• Establishes a new Supplemental State Capital Improvements Fund funded by transfers from the Budget Stabilization Fund (limited to $200 million per fiscal year), investment earnings on the BSF, and loan repayments.

• Directs 50% of Budget Stabilization Fund investment earnings to the new program's grant account over a five-year period.

• Allows the Ohio Public Works Commission to approve requests from district public works integrating committees and enter agreements with local subdivisions for infrastructure funding.

• Requires the program to terminate five years after the effective date, with remaining funds transferred back to the Budget Stabilization Fund.