General Fund

Sergey Kuzmin-123rf stock photo

  The Kentucky General Fund receipt rose more than $25 million dollars in November compared to this time last year.

Sergey Kuzmin, 123rf Stock Photo

State budget officials say tax collections for Kentucky’s General Fund grew by nearly 4% in the past fiscal year, fueled by strong sales and individual income tax receipts.

Kittugwiki, Wikimedia Commons

A bill intended to reduce state debt over time is on its way to the Kentucky House. The Senate voted 28-8 Friday in favor of the measure, which limits general fund supported debt to six percent. 

Sponsor Joe Bowen says, taking into account courthouse construction borrowing, the Commonwealth's current debt ratio is eight percent. Somerset Senator Chris Girdler says attitudes about borrowing are troubling. 


Kentucky has huge declines in revenue from key tax sources despite a rebounding national economy. State Budget Director Jane Driskell released a monthly revenue report for April today showing corporate income tax revenue is down by nearly 90 percent.

Property tax collections fell 53.5 percent for the month. Cigarette tax revenue is down 22.2 percent. And collections from the all-important sales tax were off 7.3 percent. The two bright spots in the monthly report are a 5.5 percent increase in income tax revenue and an 18.6 percent rise in coal severance tax collections.