Treasurer Sprague, Senator Gavarone Announce Ohio Treasury Modernization Legislation

COLUMBUS – Ohio Treasurer Robert Sprague and State Senator Theresa Gavarone (R-Bowling Green) have announced legislation that will update and align Ohio law with the current, modern operations of the Ohio Treasurer’s office. The reform package is a significant step toward ensuring office and state agency partners are functioning efficiently, and as intended. As part of those efforts, the legislation will repeal 27 outdated and unnecessary Ohio Revised Code sections from law.

“The law is at the core of everything we do in the Treasurer’s office, and it’s critical that the Ohio Revised Code reflects how the work of modern finance is conducted,” said Treasurer Sprague. “Over the last four years, much of our work has been focused on making necessary updates and removing redundancies, and this legislation is the next step of that ongoing effort. We’re grateful for Senator Gavarone’s partnership in furthering these common-sense, good-government reforms as we continue to modernize treasury operations and prepare for the future.”

Recently introduced by Senator Gavarone, Senate Bill 74 includes changes such as:

·       Repealing a 40+ year-old section of the Ohio Revised Code that created a fund that was never utilized;

·       Amending sections of the Ohio Revised Code addressing electronic tax payments to account for the existence of the Ohio Business Gateway;

·       Updating sections of the Ohio Revised Code regarding investment terminology, debt management, and banking relationships that have not been revised for decades; and

·       Amending the Ohio Revised Code to achieve statutory consistency regarding matters of pledged collateral among state agencies.

“Trimming unnecessary fat from the Revised Code and making government work better for the people of Ohio has been a cornerstone of my legislative agenda ever since being elected to the General Assembly,” Senator Gavarone said. “Treasurer Sprague has done an outstanding job modernizing the way his office operates and I am excited to work with him to continue improving the way government works in the Buckeye State.”

Since taking office in 2019, Treasurer Sprague has taken several steps to streamline and update office operations, which began by forging a partnership with the DeWine-Husted Administration to merge the Ohio Checkbook with the Office of Budget and Management’s Interactive Budget to form the new Additionally, Treasurer Sprague closed the office’s underutilized 9th floor cashier’s window to reflect the prevalence of modern, electronic banking and developed new applications for the processing of certain payments by state agencies, helping the office better serve its government partners.