Wednesday, February 5, 2014

Day Twenty of KY's 2014 Session In Review

While many were anticipating the impact of the snow and ice storm Governor Steve Beshear unveiled his tax reform plan on Tuesday. The plan includes:
  1. Putting the state's 6 percent sales tax on selected services and recreational activities, such as automotive repairs, fitness centers and golf courses;
  2. Increasing the tax rate on cigarettes from 60 cents to $1 a pack, and on other tobacco products commensurate to the proposed cigarette tax increase, and tax e-cigarettes at 20 percent of their value;
  3. Restoring tax on cigarette rolling papers;
  4. Reducing tax breaks on pension income for people whose annual gross income tops $80,000;
  5. Raising the state's cigarette tax from 60 cents to $1 a pack.
  6. Reducing individual and the top corporate income tax rates. 

  7. Creating a refundable earned income tax credit for low-wage workers;
  8. Reducing the 11 percent wholesale tax on beer, wine and distilled spirits to 10 percent;
  9. Creating tax breaks for some of Kentucky's signature industries, including horses and bourbon;
  10. Creating an "angel" investor tax credit for certain investments in small businesses;
  11. Expanding the state's research and development tax credit;
  12. Doubling the New Markets Tax Credit, a credit for people or businesses that buy a qualified investment from a community development agency;
  13. Exempting inventory from state property taxes; and
  14. Eliminating the option for married couples to file separately on a combined state tax return.

To learn more read the Governor's briefing papers:
Governor Beshear's Tax Reform Briefing Paper 1Governor Beshear's Tax Reform Briefing Paper 2Governor Beshear's Tax Reform Briefing Paper 3

The Senate approved SB 58, 23-15, on Tuesday, a bill that would abolish the state office of Treasurer. The bill sponsored by Sen. McDaniel would amend the state constitution to dissolve the State Treasurer’s office at the end of the current term. McDaniel said the duties would be transferred to the Finance Cabinet and state Auditor’s Office. Those opposing the bill included Senate Democratic Floor Leader Sen. R.J. Palmer who said the Treasurer’s Office provides a needed check and balance for the state’s finances. If the measure becomes law, the question will be posed to voters for final ratification in the 2014 general election in November.
The Senate passed 6 additional bills today:
  • SB20, an act relating to bullying, introduced by Senator Carpenter passed 37 – 1.
  • SB44, an act relating to motor vehicle weight tolerance, introduced by Senator Hornback passed 35 – 3.
  • SB59, an act relating to motor carrier transportation contracts, introduced by Senator Harris passed by 38 – 0.
  • SB64, an act relating all-terrain vehicles, introduced by Senator Gregory passed 36 – 0.
  • SB67, an act relating to nuclear power, introduced by Senator Leeper,  passed 30 -6.
  • SB113, an act relating to elections, introduced by Senator Bowen, passed 38 – 0.

Legislation that would help college students from Kentucky’s coal counties complete four-year degrees in their home areas with help from a “Kentucky Coal County College Completion Scholarship” has cleared the House Education Committee. HB 2, sponsored by House Speaker Greg Stumbo and Rep. Leslie Combs would fund scholarships mostly for students living and attending school in the state’s coal-producing counties in both Eastern and Western Kentucky. The bill would provide five percent of total scholarship funds for students who want to attend an approved program outside of those coal counties, according to the bill. The House passed HB 81, an act relating to an incentive work related program for employees of the Legislative Research Commission, introduced by Rep. Riggs, passed 99 – 0.
The House also passed the following bills on consent:
  • HB 138, an act relating to public employee health insurance introduced by Rep. Yonts;
  • HB 157, an act relating to pediatric abusive head trauma introduced by Rep. Wuchner;
  • HB 189, an act relating to the veterans' program trust fund introduced by Rep. Miller;
  • HB 228, an relating to boards and commissions introduced by Rep. Marzian (Passed on Consent with 5 Nay Votes);
  • HB 229, an act relating to state agency administrative requirements for regulated entities introduced by Rep. Damron;
  • HB 246, an act relating to military affairs introduced by Rep. Sinnette; and
  • SB 7, an act relating to nurses introduced by Senator Hornback (FINAL PASSAGE).

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Click on the links below

    LINKS TO SOME OF TODAY's HEADLINES:

     

    UPCOMING MEETINGS:

    Wednesday, February 5, 2014
    8:30am, Annex Room 129
    HOUSE STANDING COMMITTEE ON AGRICULTURE AND SMALL BUSINESS
    Agenda: Consideration of HB 217, HR 80 and HCR 67
    10:00am, Annex Room 149
    HOUSE STANDING COMMITTEE ON BANKING AND INSURANCE
    Agenda: Consideration of HB 218 and HB 286
    10:00am, Annex Room 131
    SENATE STANDING COMMITTEE ON HEALTH AND WELFARE
    Agenda: Consideration of Referred Legislation: SB 46, SB 47, SB 52, SB 54, SB 76 and SB 103
    Noon, Annex Room 149
    HOUSE BUDGET REVIEW SUBCOMMITTEE ON ECONOMIC DEVELOPMENT & TOURISM, NATURAL RESOURCES, AND ENVIRONME
    Agenda: Public Protection Cabinet, Budget Overview, Energy and Environment Cabinet Budget Overview
    Noon, Annex Room 129
    HOUSE BUDGET REVIEW SUBCOMMITTEE ON PRIMARY/SECONDARY EDUCATION
    Agenda: Discussion of the Governor's Department of Education Budget Proposal for the FY 2014-16 Biennium, Dr. Terry Holliday - Commissioner, Department of Education
    Noon, Annex Room 171
    HOUSE STANDING COMMITTEE ON JUDICIARY
    Agenda: Consideration of HB 51, HB 86, HB 105, and HB 130
    Noon, Annex Room 154
    SENATE STANDING COMMITTEE ON STATE AND LOCAL GOVERNMENT
    Agenda: Consideration of SB 31 and SB 72

    2:00pm, House Chambers
    House Convenes
    2:00pm, Senate Chambers
    Senate Convenes (Orders of the Day)

    SOME OF THE LATEST POLITICAL STORIES:

    Gov. Steve Beshear Dave Adkisson, president and CEO of the Kentucky Chamber of Commerce: “We commend Gov. Beshear for providing a strong starting point for discussions of tax reform. We’re pleased that the governor is emphasizing competitiveness…The governor’s proposal strikes a responsible balance between competitiveness and the need to fund government. We will now review the specifics with our member companies…” Jason Bailey, director of the Kentucky Center for Economic Policy: “Gov. Beshear deserves recognition for bringing forward a specific tax reform proposal…His plan contains some good ideas, especially in that it creates new revenue and includes modest assistance to families struggling to get [...]
    Tue, Feb 04, 2014 10:06:00 PM, Continue reading at the source

    A Kentucky House committee approved a bill Tuesday that would make permanent a pilot scholarship program aimed at helping more students get a four-year degree in coal-producing counties.Click to Continue » [...]
    Tue, Feb 04, 2014 7:37:00 PM, Continue reading at the source

    Saying Kentucky has been held back by an "archaic" tax code, Gov. Steve Beshear unveiled 22 proposed tax changes Tuesday that would raise an estimated $210 million a year for…Click to Continue » [...]
    Tue, Feb 04, 2014 5:39:00 PM, Continue reading at the source

    The United Kentucky Tea Party is putting members of the state’s congressional delegation on notice to oppose any attempt at overhauling the U.S. immigration system this year.Late last week House Republicans unveiled a one-page set of standards that would allow those who immigrated to the U.S. illegally to obtain citizenship. [...]
    Tue, Feb 04, 2014 4:30:00 PM, Continue reading at the source

    By Sam Youngman Herald-Leader Political Writer At a lunch in New York last week, U.S. Sen. Rand Paul sat with friend Nate Morris and the head of a Forbes 400 investment bank discussing the 1990s sexual transgressions of former President Bill Clinton. It was agreed among the three that such behavior would get a business owner, a banker or a doctor fired, sued or at least severely reprimanded. While that might sound like the start of a bad joke, it might not be a laughing matter for his opponents if Paul enters the 2016 race for the White House. Paul and his staff have [...]
    Tue, Feb 04, 2014 3:32:00 PM, Continue reading at the source

    WASHINGTON – In the newest survey on potential 2016 GOP presidential candidates, Kentucky Sen. Rand Paul has not been one of the beneficiaries of the erosion in New Jersey Gov. Chris Christie’s support over “bridgegate.” Paul receives 13 percent backing among Republicans and Republican-leaning independents, putting him in second place in the latest CNN/ORC Poll. Paul had the same level of support in the last CNN/ORC poll in November. Christie, beseiged by investigations over possible political motives behind the closing of traffic lanes on the George Washington Bridge, has fallen in the latest survey to 10 percent, tied with former Florida Gov. Jeb [...]
    Tue, Feb 04, 2014 3:15:00 PM, Continue reading at the source

    Wed, Feb 05, 2014 2:16:17 AM, Continue reading at the source


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