The state recently announced their 2019 surplus to be around $200 million.
(Frankfort, Ky.) - Kentucky's state budget office says most of the commonwealth's 2019 fiscal year surplus will go to the state's pension system.
Governor Matt Bevin announced last week that the state's surplus is near 200 million dollars, reports the NKY Tribune.
The state budge office says $70 million will go to the Teachers Retirement System to help with post retirement health insurance. Another $60 million will be dedicated to Kentucky employees unfunded pension liability fund.
The state also plans to use the 2019 surplus for coal severance tax to coal counties, mineral severance tax to mineral counties and lottery receipts to need-based scholarships.
The state budget office attributed the state's revenue growth in 2019 to statewide economic development efforts and tax reform policies that broadened the tax base and modernized the tax rate structure.
Freudenfest 5K to Support Oldenburg Academy Students in Sports
Milan 54' Museum to Host 40th Anniversary Celebration of Hoosiers
Sip, Stamp, Repeat: SOUTHEAST INDIANA COFFEE TRAIL Brews Up Adventure Across the Region
Indiana Agriculture Photo Contest Submission Open
Scam Reported in Ripley County
Dillsboro Library Renovations Complete, Ribbon Cutting Happens June 20
Comments
Add a comment