State Sen. Damon Thayer

Kentucky General Assembly Passes Pension Bills, Avert Special Session

Kenny Colston — Wed, 27 Mar 2013 00:14:00 +0000

FRANKFORT — Kentucky's legislative leaders have passed two bills to shore up the state's underfunded pension systems, effectively staving off a special session on the issue.

The new plan would reduce a personal tax credit of $20 to $10, generating about $33 million in revenue that would go to General Fund, but lawmakers would use it for pensions. The plan would also use revenue from technical changes in the state's tax code, as well as money from federal tax changes.

Kentucky Lawmakers Considering Plan for Pension Reform, But Compromise Appears Uncertain

Kenny Colston — Tue, 26 Mar 2013 04:07:32 +0000

With only one day left in this year's legislative session, Kentucky House leaders are hopeful they have a deal to up shore up the state's underfunded pension system. But there may not be time to get it through the legislature.

House Democrats' are building support for a proposal that uses technical wrangling of revenue sources to cut some taxes while raising other funds to pay for pension reform. The current proposal would cut the gasoline tax by one cent, resulting in a loss of funds for the state road fund.

Compromise Reached, Special Taxing District Reform to Become Law

Kenny Colston — Tue, 12 Mar 2013 19:12:44 +0000

Kentucky lawmakers reached a deal Monday in a conference committee on legislation addressing issues with special taxing districts.

The committee adopted a new proposal that would require special districts to present their annual budgets or any new fee increases to their local fiscal court. But the compromise on House Bill 1 does not allow the fiscal court veto or approval powers of the special district's actions, as Senate Republicans had recently suggested.

Kentucky Senate Changes Special Taxing District Reform; House Objects

Kenny Colston — Wed, 06 Mar 2013 22:22:44 +0000

Changes to a bill reforming how special taxing districts operate in Kentucky could kill the legislation in the final days of the General Assembly session.

State Sen. Damon Thayer, a Georgetown Republican and the majority floor leader, introduced the changes in committee on Wednesday which give local governments veto powers over possible rate increases by special districts. Those changes later passed off the Senate floor.

Auditor Adam Edelen to State Senators: Don't Amend Special Taxing Districts Bill

Kenny Colston — Wed, 27 Feb 2013 20:05:40 +0000

State Auditor Adam Edelen is encouraging Senate lawmakers not to tweak the special district taxing district reform bill, which is largely based on his proposals from a report last year.

Senate Considering Changes to Special Taxing District Reform Bill

Kenny Colston — Mon, 18 Feb 2013 17:00:00 +0000

A bill aimed at reforming the way special districts are treated in Kentucky is likely to undergo some changes in hands of the state Senate.

House Bill 1 is a partnership between Auditor Adam Edelen and House Speaker Greg Stumbo, based off recommendations Edelen made during his investigation of special taxing districts across Kentucky.

State Senate Passes Pension Reform Recommendations

Rae Hodge — Thu, 07 Feb 2013 23:20:54 +0000

The Kentucky state Senate passed a bill Thursday that would reform the majority of the state's pension system, 33-5.

Senate Bill 2 reflects the recommendations of the legislative task force assigned to study possible solutions to the problem over the summer.

Pension Bill Passes Senate Committee, House Still Has Hang-ups

Kenny Colston — Wed, 06 Feb 2013 20:13:26 +0000

FRANKFORT — An effort to reform Kentucky's underfunded pension systems passed in its first hearing Wednesday from a state Senate committee meeting.

Senate Bill 2 stems from the recommendations of a legislative task force that met over the summer to try and solve the pension problems.

It includes a suspension of cost of living adjustments and creates a new hybrid plan that acts like a 401K with a promised rate of return.

New Leadership in Senate Doesn't Equal Easier Road for Dropout Bill

Kenny Colston — Tue, 25 Dec 2012 15:00:00 +0000

Three of the chief opponents to raising the dropout age in Kentucky will not return to Frankfort next year.

That doesn't mean a dropout bill is likely to pass in the 2013 legislative session.

State law allows 16-year-olds to drop out of school with parental permission. But education advocates want the law changed to eliminate all loopholes and require dropouts to be 18 or older.

With a new education chairman and new leadership in the Senate, those advocates are hopeful this will be their year.

Kentucky Legislative Leaders: Pensions Will Be Top Issue in 2013

Kenny Colston — Tue, 25 Dec 2012 12:00:00 +0000

Figuring out how to finance a plan to shore up Kentucky public employees' pensions will be the General Assembly's greatest task in 2013, two legislative leaders said.

A legislative task force has suggested several ways to brace state employee pensions, but passing legislation and paying for it will be difficult. Lawmakers' proposals include relying on existing economic growth and raising taxes on Kentuckians with higher earnings.

House Speaker Greg Stumbo said he hasn't settled on a solution.