Legislative Update: committees pass pension bill, education measure, minimum wage and more
Pension bill to change KRS Board structure clears first legislative hurdle
House Bill 263 filed by Rep. Brent Yonts passed the House State Government Committee this week. The bill would require that two of the trustees appointed to the Kentucky Retirement System Board of Trustees have investment experience requiring 10 years of experience “as a chartered financial analyst (CFA) in good standing by the CFA Institute.” The bill also calls on the CFA Society of Louisville to supply the Governor with a list of three qualifying applicants from which the Governor may appoint.
The sponsor has filed a floor amendment to further expand the definition of investment experience. The bill as filed passed the committee with 23 yes votes and one pass vote and now heads to the full House.
Minimum wage legislation passes in committee
The House Labor and Industry Committee heard testimony and voted in favor on House Bill 278, which would raise Kentucky’s minimum wage to $10.10 incrementally.
The committee heard testimony from Kentucky Chamber Public Affairs Director Kate Shanks who expressed the concerns of the business community on the issue, stating it will have an adverse effect on Kentucky’s small businesses. The Chamber supports the current law, which automatically increases with the federal law, rather than putting Kentucky employers at a competitive disadvantage with surrounding states.
House Bill 278 now moves to the House floor for a vote.
Chamber supported education bill moves through committee
Senate Bill 127, sponsored by Max Wise, passed out of the Senate Education Committee Thursday with unanimous consent. The legislation would permit high school seniors, beginning with the 2017-2018 academic year, and high school juniors and seniors, beginning with the 2018-2019 academic year, to use their KEES awards to pay for dual credit courses.
Energy bill passes committee
House Bill 202 filed by Rep. Rocky Adkins passed the House Economic Development Committee this week. The bill would allow coal mining and processing facilities to be eligible for tax incentives provided by the Kentucky Enterprise Initiative Act and the Kentucky Business Investment Act. The bill also directs the Economic Development Cabinet to work with partners to promote exports of Kentucky Coal. The bill passed committee with 18 yes votes and one pass vote.