House Bill 416

2013 KY General Assembly
8:05 am
Fri March 1, 2013

Pension Fixes in Limbo As Leaders Argue Over Approaches

A House bill aiming to help generate revenues for the underfunded pension system is in legal limbo as the Senate refused to accept the bill.

House Bill 416 takes revenues from expansion of Instant Racing and online lottery sales and the start of a Keno game to generate close to $100 million a year to pay into state's currently underfunded pensions for state employees.

Revenue bills in odd-year sessions must have 60 House votes in final passage to be considered within the rules; House Bill 416 only received 52 on the floor. Because of that, the Senate clerk refused to accept the bill.

But House Speaker Greg Stumbo says the Senate should amend the bill and send it back to the House for final passage if it wants to avoid a special session.

Read more