April 1, 2020 10:37am
KYGA20: Budget Update
The General Assembly returns to Frankfort today for the 51st legislative day to take action on the branch budgets and accompanying bills.
Yesterday, the House and Senate Chairs of the HB 352 Conference Committee presented a summary of the budget compromise reached between the two chambers. The proposal only budgets for Fiscal Year 21, leaving Fiscal Year 22 to be considered during the 2021 legislative session in January. The FY 21 budget, based on $115 Million less in revenue than original proposals, does not include pay raises for teachers or state employees and does not provide an increase to the SEEK formula. The compromise does fully fund public employee pensions contributions, freezes pension contribution rates for quasi-governmental entities, and allocates the Volkswagen Settlement funds. You can view the HB 352 FCCR summary HERE.
Legislators return today and will gavel in for the final legislative day before their scheduled return on April 14th and 15th for veto override votes and possible consideration of other bills. Six legislative committees were scheduled to meet this morning, but four have since been cancelled. As of this update, only the Senate Appropriations and Revenue Committee and Senate Transportation Committee will meet and are expected to take up budget related bills. Both Chambers convene at Noon and appear poised to only consider budget bills, the revenue bill that is required to accompany the state budget, and the Road Plan.