Tagged: 2013 KY General Assembly

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 roughly 33 million in revenue that would go to General Fund, but lawmakers would use for pensions. It would also use revenue from technical changes in the state's tax code, as well as money from federal tax changes.

Kentucky legislative leaders have reached agreement on a plan aimed at shoring up the state's underfunded pension systems, staving off the need for a special session of the General Assembly.

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

Overall, the plan would generate $96 million in the 2015 fiscal year and $100 million in 2016 fiscal year.

A bill requiring prompt pay for health care providers participating in Kentucky's Medicaid managed-care system is heading to the governor's desk — but it isn't veto-proof.

The bill is  sponsored by House Speaker Greg Stumbo and would move disputes between providers and managed care organizations to the Department of Insurance to be settled.

Kentucky lawmakers will reconvene at noon today to finish out the last two days of this year's legislative session. They face a stack of unfinished bills. Proposals include a measure to reform the state's underfunded pension system and legislation to legalize hemp farming. Lawmakers also could try to override a gubernatorial veto.