COLUMBUS, Ohio — In a new bi-partisan initiative, the Ohio General Assembly is considering Senate Bill 145 (SB 145), introduced by Senators Michele Reynolds [R] and Hearcel Craig [D]. This bill proposes to rename the Ohio Department of Development to the Ohio Department of Housing and Development. The bill also aims to enact revisions across various sections of the Ohio Revised Code to strengthen the state’s focus on housing and economic development.

Detailed Provisions of SB 145:

  1. Renaming the Department of Development:
    • The existing Department of Development will be rebranded as the Department of Housing and Development. This name change underscores a strategic shift towards a greater emphasis on housing-related issues within the state’s economic development agenda.
  2. Expanded Responsibilities:
    • With the new title, the Department of Housing and Development will assume broader responsibilities, encompassing economic growth specifically tied to housing policies, community development, and enhanced financial assistance programs. This expansion aims to integrate housing more deeply into the state’s economic development strategies.
  3. Amendments to Economic Development Programs:
    • The bill proposes substantial amendments to existing grant and loan programs, redirecting focus and resources more directly toward housing development and related economic initiatives. This includes modifications to tax incentives and the restructuring of state assistance programs to better support housing and urban development.
  4. Housing and Urban Development Initiatives:
    • New funding mechanisms are set to be introduced under SB 145, aimed at supporting affordable housing initiatives and expanding public-private partnerships in housing development. These measures are designed to address the growing need for affordable living spaces and to stimulate community revitalization.
  5. Changes in State Budgeting and Oversight:
    • SB 145 mandates a closer integration of housing policies into the state budget process, alongside new oversight mechanisms to ensure stringent compliance with funding and policy requirements. These changes are expected to enhance the effectiveness and transparency of housing and development expenditures.
  6. Tax and Financial Code Modifications:
    • The bill includes revisions to specific tax codes and financial regulations, particularly those affecting economic development and housing assistance. These adjustments aim to align more closely with the new department’s objectives, fostering an environment conducive to housing development and economic growth.

The restructuring and renaming of the Department, along with the extensive legislative changes, would significantly influence Ohio’s approach to housing and economic development. While the bill is expected to enhance the availability of affordable housing and support economic growth, it also brings challenges such as potential administrative complexities and conflicts with existing financial incentives.

For supporters, Senate Bill 145 is a bold initiative to reshape Ohio’s housing and development landscape.