Post by Logan on Apr 29, 2016 22:31:09 GMT -6
House budget offer would delay pension payment, safeguard education funding
The House budget chairman offered a partial solution to the state’s projected shortfall late Friday.
Rep. Ron Ryckman, R-Olathe, proposed delaying a $100 million payment into the state’s pension fund indefinitely to improve the state’s cash flow.
Gov. Sam Brownback’s office announced it would delay the payment earlier this month. But under current law, he must pay it back by September. Ryckman’s proposal gives the state more leeway.
It would also designate two sources of revenue to help pay back the money with 8 percent interest.
Read more: www.kansas.com/news/politics-government/article74823812.html
The House budget chairman offered a partial solution to the state’s projected shortfall late Friday.
Rep. Ron Ryckman, R-Olathe, proposed delaying a $100 million payment into the state’s pension fund indefinitely to improve the state’s cash flow.
Gov. Sam Brownback’s office announced it would delay the payment earlier this month. But under current law, he must pay it back by September. Ryckman’s proposal gives the state more leeway.
It would also designate two sources of revenue to help pay back the money with 8 percent interest.
Read more: www.kansas.com/news/politics-government/article74823812.html