As the 2018 Regular Session of the Kentucky General Assembly enters March, several priority issues are in motion including crafting the next two-year State Budget, six-year road plan, and legislation to reform the state’s financially troubled public pension systems (SB 1). At press time of this issue, the state House was continuing to review the Governor’s budget proposal. There are significant budgeting challenges, such as modest projected tax revenue growth, enormous obligations to public employee pension systems and higher costs associated with prison and Medicaid populations. The Governor’s plan called for 6.25 percent cuts to many state agencies and programs, including the University of Kentucky. Although the proposal held harmless the per pupil funding for K-12 (SEEK formula), local districts would be required to make cuts in administrative budgets to cover additional costs.
The Governor's budget calls for program reductions that impact UK programs important to economic development in the region, such as the Center for Applied Energy Research ($2.63 million) and the Center for Entrepreneurship ($612,900), which funds the Small Business Development Centers across the state.
This session, Commerce Lexington Inc. is also supporting legislation related to medical liability reform (HB 4, SB 2) to lower health care costs, essential skills curriculum for K-12 education (HB 3), workers compensation system modernization (HB 2), and extending angel investor tax credit programs (HB 312) that help local technology start-up businesses. Business-friendly legislation related to modernizing the state’s unemployment insurance system is also expected to receive attention this session.
Commerce Lexington continues to monitor legislation and provide regular e-mail updates about activity in Frankfort to keep you informed about the issues impacting the business community. If you have questions or concerns, contact Andi Johnson, CLX Chief Policy Officer, at (859) 226-1614.
The Governor's budget calls for program reductions that impact UK programs important to economic development in the region, such as the Center for Applied Energy Research ($2.63 million) and the Center for Entrepreneurship ($612,900), which funds the Small Business Development Centers across the state.
This session, Commerce Lexington Inc. is also supporting legislation related to medical liability reform (HB 4, SB 2) to lower health care costs, essential skills curriculum for K-12 education (HB 3), workers compensation system modernization (HB 2), and extending angel investor tax credit programs (HB 312) that help local technology start-up businesses. Business-friendly legislation related to modernizing the state’s unemployment insurance system is also expected to receive attention this session.
Commerce Lexington continues to monitor legislation and provide regular e-mail updates about activity in Frankfort to keep you informed about the issues impacting the business community. If you have questions or concerns, contact Andi Johnson, CLX Chief Policy Officer, at (859) 226-1614.
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