The 2015 General Assembly reopened the 2014-2016 budget to appropriate new monies for several initiatives. These were largely paid for — and the state’s rainy day fund was boosted by — a transfer from the Public Employee Health Trust Fund. A number of decisions were also made that affect future spending by the state in areas like debt and corrections, including the choice not to enact a financing plan for the Kentucky Teachers Retirement System. On the revenue side of the fiscal equation, legislation passed which affects the resources the state will have to meet its obligations such as the decision to stabilize the Road Fund and create a film tax credit.
Read more about these changes in our summary of the fiscal impact of the 2015 General Assembly.
