13RS HB416
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HB416

13RS

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HB 416 (BR 368) - G. Stumbo, L. Clark, R. Adkins, S. Overly, T. Thompson

     AN ACT relating to funding the Kentucky Retirement Systems.
     Amend KRS 131.030 to make technical corrections.

HB 416 - AMENDMENTS


     HCS - Delete the provisions of the original bill; create a new section of KRS Chapter 61 to establish the Kentucky Retirement Systems sustainability trust fund; amend KRS 138.510 to require all tax collected on money wagered on any historical horse race after the annual thershold has been met to be deposited in the Kentucky Retirement Systems sustainability trust fund; amend KRS 138.511 to define annual threshold, historical horse race, and live racing; create new sections of KRS Chapter 138 and 154A to cease the distribution of funds to the Kentucky Retirement Systems sustainability trust fund if the actuarial value of the Kentucky Retirement Systems assets are equal to or greater than 80% of the actuarially accrued liabilities of the Kentucky Retirement Systems; amend KRS 154A.130 to credit all net lottery revenues from the sale of lottery tickets resulting from the expansion and implementation of new games by the Lottery Corporation to the Kentucky Retirement Systems sustainability trust fund; make conforming changes.
     HCA (1/Title, R. Rand) - Make title amendment.
     HFA (1, J. Hoover) - Retain original provisions; create a new section of KRS Chapter 18A to require a 10% reduction in the cost of executive branch personnel over a three year period beginning in fiscal year 2013-2014; create a new section of KRS 45A.690 to 45A.725 to reduce the amount that may be expended by the executive branch on general fund supported personal service contracts by $70,000,000 from the level of expenditures in fiscal year 2012-2013; create a noncodified section that reallocates the $70,000,000 saved from the reduction in personal services contracts in fiscal year 2013-2014 from various state agencies to the fund established by Section 1 of the Act; require specific appropriations to the fund created by Section 1 of the Act and to the Kentucky Department of Education for textbooks in fiscal biennium 2014 - 2016.
     HFA (2/Title, J. Hoover) - Make title amendment.
     HFA (3, J. Hoover) - Retain section 1 of the HCS; delete the remaining provisions and instead create a new section of KRS Chapter 18A to require a 10% reduction in the cost of executive branch personnel over a three year period beginning in fiscal year 2013-2014; create a new section of KRS 45A.690 to 45A.725 to reduce the amount that may be expended by the executive branch on general fund supported personal service contracts by $70,000,000 from the level of expenditures in fiscal year 2012-2013; create a noncodified section that reallocates the $70,000,000 saved from the reduction in personal services contracts in fiscal year 2013-2014 from various state agencies to the fund established by Section 1 of the Act; require specific appropriations to the fund created by Section 1 of the Act and to the Kentucky Department of Education for textbooks in fiscal biennium 2014 - 2016.

     Feb 19-introduced in House
     Feb 20-to Appropriations & Revenue (H)
     Feb 22-taken from Appropriations & Revenue (H); 1st reading; returned to Appropriations & Revenue (H); posting waived; posted in committee
     Feb 25-taken from Appropriations & Revenue (H); 2nd reading; returned to Appropriations & Revenue (H)
     Feb 27-reported favorably, to Rules with Committee Substitute, committee amendment (1-title) ; taken from Rules; placed in the Orders of the Day for Wednesday, February 27, 2013; floor amendments (1) and (3) filed to Committee Substitute, floor amendment (2-title) filed ; 3rd reading, passed 52-47 with Committee Substitute, committee amendment (1-title)
     Feb 28-Not accepted in Senate (violation of Senate Rules and Mason's Manual)

Vote History
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