Coal Severance Funds

FRANKFORT, Ky. - Kentucky ended the 2013 fiscal year with a $70.6M General Fund surplus, but State Budget Director Jane Driskell says the recovery continues to be “bumpy.” Driskell told a Joint Committee on Appropriations and Revenue Thursday that the state saw modest General Fund growth, exceeding analyst expectations by $40M.

LEXINGTON, Ky.-- House speaker Greg Stumbo says he intends to see that $2.5 million in coal severance tax funds being used to help pay for renovations at Rupp Arena is replaced.

Stumbo told the Lexington Herald-Leader on Thursday that the funding could be replaced when bonds are issued for renovating the facility, "making it more of a loan than a grant."

Officials in Appalachian counties complained about lawmakers' decision to use coal severance taxes for the project.