Ohio's State Capital Budget Introduced
Vol. IV, No. 14 - Nearly $4 Billion is Set To Be Reinvested In Ohio's Communities -- Inclusing Those in Miami County.
Every two years, the Ohio General Assembly passes a capital improvements budget — a separate bill, distinct from the operating budget, that funds the physical infrastructure of state government and directs hundreds of millions of dollars to communities across Ohio. This year, that bill is Senate Bill 450, currently before the Senate Finance Committee. It represents $3.696 billion in total capital appropriations for fiscal years 2027 and 2028. And for local residents, it’s worth paying attention to.
How the Capital Budget Works
Unlike the biennial operating budget, which funds day-to-day government functions like schools and social services, the capital budget pays for things you can touch — buildings, roads, parks, equipment, and facilities. Most of the money isn’t cash sitting in a bank account; it’s backed by state-issued bonds, meaning Ohio borrows the money and pays it back over time through the General Revenue Fund.
Ohio Budget Director Kimberly Murnieks recently testified before the Senate Finance Committee, noting that Ohio’s debt burden is at its lowest point in modern history. Per-capita GRF-backed debt fell to just $623 by FY 2025 — half of what it was in the mid-2000s. By comparison, the City of Troy’s general obligation debt per capita is $259, while Piqua’s figure checks in at $137 and Tipp City’s is $173.
The state has shed $2.4 billion in debt obligations since Governor DeWine took office, saving an estimated $1.3 billion in future interest costs. The practical effect: Ohio enters this capital budget cycle with more borrowing flexibility than it has had in decades.
The bill funds capital projects at state agencies, public colleges and universities, K-12 school buildings, and local infrastructure across all 88 counties. It also sets aside approximately $208 million in targeted community project grants — the line items that tend to matter most to residents of cities like Troy, Piqua, and Tipp City.
What’s in the Bill for Our Communities
Here is what S.B. 450 currently proposes for the Miami County region, organized by where they appear in the bill:
Section 357.09 — One-Time Strategic Community Investments
*(General Revenue Fund-backed grants administered through the Office of Budget and Management)*
These are direct community grants, earmarked by name. Five local projects appear in this section:
Troy Great Miami River Recreation Connectivity Project — $2,000,000
Troy-Miami County Public Library Improvements — $500,000
An important note: the Troy river project is listed as a reappropriation — meaning they were first approved in a prior capital budget (H.B. 730 of the 136th General Assembly) and have not yet been fully spent. That’s a question worth asking: why is this money still unspent, and what is the current project status?
Section 373.15 — Local Parks, Recreation, and Conservation Projects
(Parks and Recreation Improvement Fund, administered by the Ohio Department of Natural Resources)
Lockington Trail Bridge — $250,000
This project connects to the growing trail network in Miami County and would be administered through ODNR rather than as a direct city or township grant.
Section 207.12 — Edison State Community College Capital Appropriations
(Higher Education Improvement Fund)
Tipp City Grocery-Anchored Project — $1,000,000
This one stands out. Routing a community economic development project through a community college’s capital line item is an increasingly common mechanism in Ohio capital budgets. It allows state higher education capital funds — which require a constitutional nexus to education or workforce development — to support broader regional economic activity. Residents in Tipp City should understand that this project’s release of funds will flow through Edison State’s board and the Chancellor of Higher Education, not directly through city government.
What Comes Next
S.B. 450 was introduced and is now before the Senate Finance Committee, where testimony began this week. The bill will go through committee hearings in the Senate, then move to the full Senate floor, then to the House, where the House Finance Committee will hold its own hearings. Amendments — including additions, deletions, and dollar amount changes to community projects — could happen, but at this stage of the process, legislative leaders have done their best to nail down a final funding proposal that keeps constituents happy.
No funding in this bill is guaranteed until the Governor signs it into law. Community members who want to protect or advocate for these local projects have a narrow window to make their voices heard — in writing to their state legislators and, when public hearings are scheduled, in testimony before the committee.
Overall, the state capital budget is putting state-backed dollars back into the communities we call home.
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This Month, we are doing something different! We are partnering with the Troy-Miami County Public Library by using this platform to raise funds for the Dolly Partin Imagination Library locally here in Miami County! Through the Dolly Partin Imagination Library, children from birth to Kindergarten, can get a book delivered every month to their home at no cost.
And while Dolly is a huge help, she picks out the stories and she works with the publishers, there is still a local cost to the program. Your donations through our “Buy Me A Coffee Page” will help get these youngsters on the right track to a life-long love of reading!
Thanks to John, Kim and Rachelle for your recent donations to this effort. So far this month — 55 books have been purchased! Thank you!