Ohio Feds Question Legality of Rail Finance Plan
The Treasury Department says Ohio’s $2 billion high speed rail bond package to study a Cleveland to Cincinnati network may violate federal tax law. State Rep. Van Meter plans a statewide election attempt to block the plan. Treasury officials say lawmakers misunderstood tax rules and that noncommitment to build could be illegal.
MENTIONED IN THIS ARTICLE
Columbus
Ohio
U.S. Treasury Department
Thomas A. van Meter
Rushland
Cleveland
Cincinnati
Treasury
Sam Richardson
U.S
Treasury Department
Ohio rail bond plan on hold awaiting Treasury approval
Bond lawyers delay issue as Treasury questions tax exemption and personal liability. Under the bill Ohio would reinvest bond proceeds to earn about 100 million while studies decide on building the system, with a decision not expected before 1990. Bond counsel says reinvestment can meet federal rules if 85 percent is spent within five years. Access to official guidance remains open.
MENTIONED IN THIS ARTICLE
Ing
Treasury Department
Dennis J. Concilla
Ohio GOP chairman faces uncertain future
Ohio Republican Chairman Michael Colley faces scrutiny as the party contends with election losses and uneven support. Peers express mixed views on his future before his term ends in May 1988, while Colley pitches meetings to gauge party sentiment and prove improvement.
MENTIONED IN THIS ARTICLE
Columbus
Ohio
Michael Colley
Colley
Ohio Supreme Court
Mike
Robert Wilson
Elyria
Wilson
Republican State Central Committee
4Th District
Robert Holmes
Lima
Also Mentioned on This Page
Feds
Richardson
Richard Celeste
Fective
John M. Anderson
Bond
GOP
Holmes
James Brennan
Toledo
Brennan
Senate
Paul E. Gillmor
Port Clinton
Gillmor
Republicans
Republican National Committee
Norm Cummings
Cummings
Maries
Ned
St. Joseph Hospital
Enel Elyria Memorial Hospital
Lorain Community Hospital
SAT
SUN
A & Fale
Mase
Nat cl
Norfolk Pines
Andy
Griswold
RRC
Long Stam Roses
Kresge
Amherst and Ye
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