Ohio House Bill HB491

Ohio 2023-2024 Regular Session

• Introduced: 4/16/24

Caption

Require entities to provide info for Govt Expenditure Database

Impact

If enacted, HB 491 will amend several sections of the Ohio Revised Code and introduce new requirements for state and local organizations regarding financial reporting. The new database is intended to facilitate public access to governmental financial information, allowing for a greater degree of scrutiny over how taxpayer money is spent. This bil will repeal certain existing sections of the law that may be outdated or redundant, thus streamlining the overall approach to financial transparency in state governance.

Summary

House Bill 491 seeks to enhance transparency in government expenditures by establishing a state and local government expenditure database. The bill mandates that state entities and political subdivisions must provide detailed information on their financial transactions, including expenditures and revenues, to the Treasurer of State. This data will be compiled into a publicly accessible database, aimed at improving accountability and allowing citizens to monitor how public funds are utilized. The scope of data includes amounts, dates, suppliers, and the specific governmental entity that made the expenditures.

Contention

While supporters of HB 491 argue that it will foster a culture of accountability and transparency, there may be concerns among some political subdivisions about the burden of compliance with these new reporting requirements. Critics might argue that increased reporting requirements could strain resources, especially for smaller local governments that may lack the necessary infrastructure or personnel to comply fully. Additionally, there may be concerns about the proper handling of sensitive financial information and the potential for data privacy issues in the public domain.