Tuesday, March 25, 2014

Senate Unveils it’s version of Kentucky Budget

A Kentucky Senate committee has advanced a proposed $20 billion, two-year state budget that differs from the House-passed plan on some key points.

The version that emerged Monday significantly reduces the amount of bonded projects.

The proposed Senate version restores a 2.5 percent cut in operating funds for universities included in the House's budget.

But the Senate plan removes a number of bonded construction projects for the universities that the House backed.

The Senate version also removes a proposed $65 million bond for Rupp Arena's renovation and a new convention center in Lexington.

The Senate plan maintains putting more money into the state's main funding formula for kindergarten through 12th-grade classrooms.

The Senate also backs funding cuts of 5 percent for many state agencies, as the House did.

The legislation is House Bill 235.