Greater Louisville Inc.: General Assembly Passes Biennial State Budget

Louisville KY

03 April, 2022

8:30 AM

Description

Press release from Greater Louisville, Inc.: March 31, 2022 On the final day before the veto period of the 2022 session, both the House and Senate passed the biennial state budget plan which allocates $31 billion in general fund monies over the next two years. The budget includes record spending in education, a focus on economic development and workforce programs, pay raises for all state employees, and full funding of Kentucky's pension obligations with additional payments to ensure the funds' solvencies. The final budget plan leaves more than $1 billion in funding unspent. After months of planning, House Bill 1 passed the House with record speed in January of this year, with the Senate then slowing things down and formally making changes last week. Details of the final version were presented during a meeting of the budget conference committee, comprised of leadership from the House and Senate, on Wednesday morning. Here are a few of the highlights of programs and funding included in House Bill 1: Economic Development & Infrastructure Along with House Bill 1, the General Assembly also passed House Bill 243 relating to the legislative branch budget and House Bill 244 relating to judicial branch sending. The budget bills now head to Governor Beshear for consideration during the 10-day veto period. This press release was produced by Greater Louisville, Inc.. The views expressed here are the author's own.