Greater Louisville Inc.: KY Senate Passes Biennial Budget Bill

Press release from Greater Louisville, Inc.:

2022-03-10

The Senate passed their version of the state’s biennial budget, which was an amended version of House Bill 1, on Wednesday. The proposed $150 billion budget proposal includes funds for state employee raises, school needs, and pension obligations.

The Senate version leaves $1.75 billion in Kentucky’s rainy-day fund and includes $500,000 to audit the state’s workforce initiatives. Senate Appropriations & Revenue Chair, Chris McDaniel (R-23), noted that this proposal prioritizes helping Kentuckians deal with inflation and includes money for one-time tax rebates for Kentuckians.

Other key features of the Senate budget version include:

HB 1 passed the House earlier this session. The amended version now goes back to the House for consideration of the changes and will likely be assigned to conference committee before being finalized.

Check back to Policy Distilled for more updates and information as the budget progresses in the final weeks of the 2022 session.

This press release was produced by Greater Louisville, Inc.. The views expressed here are the author’s own.