Peterson announces more than $1.8 billion local government infrastructure investment
Senator Bob Peterson (R–Washington Court House) has announced the Ohio Senate has passed Senate Joint Resolution 6, which seeks to renew the State Capital Improvement Program (SCIP).
The partnership between SCIP and the Ohio Public Works Commission finances public capital improvements to preserve and improve public infrastructure in communities across Ohio.
“Ohio and the counties I represent in South Central Ohio, will benefit from the infrastructure projects approved by voters” said Peterson.
“This program is made possible by the conservative fiscal management of state funds, while constitutionally protecting the bonding authority of Ohio.”
The program has been extremely successful over the course of its nearly 27-year history and has been supported at the polls by voters every time renewal has been needed. The SCIP was originally put before voters and passed in 1987. It has been subsequently put on the ballot by the General Assembly and passed by voters in 1995 and 2005.
The Senate’s plan asks voters to approve a 10-year renewal of the program that would increase the bond funding levels to $175 million annually for the first five years and $200 million annually for the remaining five years.
In total, Senate Joint Resolution 6 asks Ohio voters to approve $1.875 billion of investment that will directly benefit local governments and communities. These infrastructure dollars will work to continue the program’s proven track record of creating jobs, improving the quality of life, and in many cases, ensuring public health and safety for years to come.
Section 17, article VIII of the Ohio Constitution limits state debt to just 5 percent of the General Revenue Fund. With the passage of Senate Joint Resolution 6, the state maintains its continued commitment to responsible and conservative debt management while also providing the largest funding increase in the program’s history.
The resolution now proceeds to the Ohio House of Representatives where it must also receive approval before being placed on the May 2014 ballot.
Senator Bob Peterson represents the 17th District in the Ohio Senate, which encompasses all or part of Clinton, Fayette, Gallia, Highland, Jackson, Lawrence, Pickaway, Pike, Ross, and Vinton Counties. He is the Chairman of the Senate Finance Subcommittee on General Government. Learn more at www.OhioSenate.gov/Peterson.