House Bill 462, introduced this week in the Ohio General Assembly, would make capital reappropriations for the biennium ending June 30, 2012, and certain capital appropriations.

Rep. Vernon Sykes, D-Akron, HB 462's sponsor, said the bill would basically re-up capital improvement projects that were approved in the 127th General Assembly.

However, under HB 462, new appropriations would be established for the Ohio Public Works Commission and the Ohio School Facilities Commission. The bill would appropriate $120 million to the PWC's State Capital Improvements Fund, $25 million to the PWC's Revolving Loan Fund, and $525 million to the OSFC.

Under the bill, appropriations would be made to several state universities, including the University of Akron, Bowling Green State University, The Ohio State University, the University of Cincinnati and Cleveland State University.

Keary McCarthy, spokesman for the House Democratic Caucus, said HB 462 is not to be confused with the Ohio capital appropriations bill, which is usually introduced at the end of March or in early April.

While the state's capital budget provides for the acquisition or construction of major capital items - land, buildings, structures and equipment - and project money typically comes from bond sales, HB 462 would reauthorize the unexpended balances of capital projects appropriated in last General Assembly.

According to the Ohio Office of Budget and Management's Web site, the capital reappropriations bill is necessary due to the constitutional amendment preventing the state legislature from making an appropriation for period of more than two years. The bill recognizes that several capital projects need more than two years for completion.

Between HB 462 and the anticipated capital appropriations bill, Ohio has nearly $1.8 billion in general obligation bond debt authority capacity.

"(HB 462) reappropriates $2.5 billion to be used for capital improvements, including construction and renovation for school buildings, prisons and public infrastructures," said McCarthy.

McCarthy said the Democratic Caucus' goal is push HB 462 through the legislature as quickly as possible, so that it may be passed in the House and Senate before the General Assembly leaves for spring break - which is scheduled to take place March 29 through April 9.

In order for HB 462 to go into effect by July 1, the start of the new fiscal year, it needs to be passed by March 31, he explained. HB 462 would go into effect after 90 days of its passage.

"We have had initial discussions with the Senate, in order to make the appropriations effective by July 1, so we are hoping to move forward with these funds," McCarthy said, adding that passing the legislation by this time would ensure against interrupting current construction activity in the state.

HB 462's first hearing was held this week in the House Finance and Appropriations Committee.