Tue March 6, 2012
New Kentucky Budget Survives First Legislative Vote
Budget plans for all three branches of Kentucky’s government are on their way to the House floor after easily passing out of the House budget committee Tuesday. The committee passed bills that would cut the judicial and legislative budgets by 8.4% to match the cuts already made to the executive budget.
The panel also approved a plan by Governor Beshear to restart a new tax amnesty program. Late filers from December 2001 to October 2011 will be able to take part in the program. Finance Secretary Lori Flannery says based on two previous amnesty programs, she expects this third time to be successful.
“So we feel like, that the plan we used last time and that we are planning to use again during this campaign is one that has worked in the past,” she says.
Flannery says more than $1 billion in late taxes are owed to the state. And while she doesn’t believe all of that money can be recouped through the program, she’s hopeful that much of it will be.
The budget bills now move to the House floor, where they are expected to be voted on as early as Wednesday.