OH HB332

Creates a new "small defense business linked deposit program" allowing the Ohio Treasurer to place state funds at below-market interest rates with lending institutions that agree to make reduced-rate loans to eligible defense contractors

Eligible borrowers must be Ohio-headquartered for at least 5 years, maintain at least 51% of facilities in Ohio, have current or past contracts with the U.S. armed forces, have less than $25 million in gross receipts, and be organized for profit

Borrowers must certify that reduced-rate loans will be used exclusively in Ohio to create new jobs, preserve existing jobs, or contribute to business preservation or growth

Adds the new program to Ohio's existing linked deposit framework alongside programs for adoption, agriculture, small business, and home improvement loans

Linked deposits under all programs combined cannot exceed 12% of the state's total average investment portfolio, with maturity periods not exceeding 5 years