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HB 332

Create the small defense business linked deposit program

136th Legislature (2025-2026) Introduced by Kellie Deeter and 5 co-sponsors

Ohio bill establishing a linked deposit program to provide financial support and lending access for small businesses engaged in defense contracting.

Referred to committee
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Bill Summary · HB 332

Legislative bill overview

HB 332 establishes a "small defense business linked deposit program" in Ohio that would create a financial mechanism to support small businesses involved in defense contracting. The bill appears designed to facilitate lending or investment relationships between Ohio financial institutions and small defense-related businesses, though specific program mechanics are not detailed in the available information.

Why is this important

Defense contracting represents a significant economic sector that supports manufacturing jobs and creates tax revenue. By creating a dedicated program, Ohio would attempt to compete for federal defense spending and help small businesses navigate the complex defense procurement landscape, potentially boosting regional economic development.

Potential points of contention

  • Program structure and cost: The specific details of how linked deposits work, what state funds are involved, and the total fiscal impact are not clear from the bill summary alone—this requires examination of the full text
  • Risk allocation: Questions about how losses would be handled, whether taxpayers bear risk, and what returns the state expects from participating financial institutions
  • Definition and eligibility: Determining what qualifies as a "small defense business" and whether the criteria are appropriately narrow or dangerously broad

Compiled from official sources — confirm details with the bill’s official record.

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