Kentucky debt

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.

An annual report that describes the state’s financial outlook shows that Kentucky has once again gone deeper into debt.

The report, when compared with past years, shows the state added more than $110 million in debt during the last fiscal year.