Ohio House expected to get in-state investing bill

An Ohio House bill requiring state public employee retirement systems to use in-state firms to run at least 70% of externally managed assets is expected to go to the House floor Wednesday, said Mike Miller, legislative aide to Republican Rep. Michelle G. Schneider, a co-sponsor. The bill defines an in-state firm as being headquartered in the state or having at least three separate operating locations in Ohio, employing at least 15 persons. The bill is expected to be approved by the House Banking, Pensions and Securities Committee.