Senate Bill 163 Summary

• Amends section 135.35 of the Revised Code to modify eligible investment qualifications for county inactive moneys and county public library funds.

• Changes investment requirements for corporate notes in division (A)(9) from "second highest or higher category" to "second three highest or higher category" rating and extends maturity period from two years to three years.

• Prohibits investments in derivative instruments, with exceptions for variable interest rate investments with two-year maximum maturity and treasury inflation-protected securities with five-year maximum maturity.

• Maintains requirements that all investments must mature within five years unless matched to specific county obligations and approved by investment advisory committee.

• Requires written investment policy filed with state auditor and mandates monthly portfolio reporting to county commissioners and state treasurer.