Bill Text: OH SB148 | 2009-2010 | 128th General Assembly | Introduced

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Bill Title: To authorize municipal corporations to have a deficit in special funds under certain circumstances.

Spectrum: Partisan Bill (Democrat 1-0)

Status: (Introduced - Dead) 2009-06-18 - To Ways & Means & Economic Development [SB148 Detail]

Download: Ohio-2009-SB148-Introduced.html

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As Introduced

128th General Assembly Regular Session 2009-2010

S. B. No. 148

Senator Turner 

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A BILL

To enact section 731.60 of the Revised Code to

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authorize municipal corporations to have a deficit

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in special funds under certain circumstances.

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BE IT ENACTED BY THE GENERAL ASSEMBLY OF THE STATE OF OHIO:

Section 1. That section 731.60 of the Revised Code be enacted	4
to read as follows:	5

Sec. 731.60.  A municipal corporation may have a deficit in	6
any special fund of the municipal corporation only if both of the	7
following conditions are satisfied:	8

(A) The municipal corporation has a request for payment	9
pending with the state or federal government sufficient to cover	10
the amount of the deficit and there is a reasonable likelihood	11
that the payment will be made; and	12

(B) The unspent and unencumbered balance in the municipal	13
corporation's general fund is greater than the aggregate of	14
deficit amounts in all of the municipal corporation's special	15
funds.	16