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Home / KY: Lawmakers Don’t Like Governor’s Budget PlanKY: Lawmakers Don’t Like Governor’s Budget Plan
Last Updated on Monday, 15 December 2008 11:51 Written by rslcpol Monday, 15 December 2008 11:51
From The McCreary County Record:
When he announced his plan for covering a $456 million shortfall in the state budget, Gov. Steve Beshear called it a “starting point.”
Reaction so far has been mixed, but some signs of opposition at least to some parts of the plan have indeed started.
Beshear wants to use $17.8 million in “excess coal severance tax receipts” for the state general fund rather than sending it back to the coal producing counties which are to receive half of the taxes for economic development. Budget Director John Hicks said increased coal production this year in the face of high oil prices produced significantly higher coal severance receipts than budgeted. During the first six months of the year, the state sent back to coal counties $20 million more in coal severance taxes than what was budgeted.