Legislative Update: Fix for super-sized pensions and tech incentive bills pass committees
Bill to curb super-sized legislative pensions passes committee
Senate Bill 73, legislation to fix the practice of super-sized legislative pensions, passed through the Senate State and Local Government Committee Tuesday with a 11-0 vote.
The legislation, sponsored by Sen. Chris McDaniel passed through the committee with unanimous consent for the fourth year in a row.
McDaniel says the bill is aimed at giving legislators a one-time opt-out to make their pension based solely on their legislative salary and not receive a massive bump if they take a higher paying job elsewhere in state government. McDaniel said SB73 would save the state more than $6 million over 20 years.
The legislation now heads to the Senate floor for a vote.
Bill to incentivize tech investments passes committee
Legislation to add data centers to the definition of manufacturing in order to attract tech investments passed the House Economic Development Committee Thursday with unanimous consent.
House Bill 237 would add tier 3 and tier 4 tech centers, which encompasses large tech companies like Google and Amazon, to the definition of manufacturing which will help Kentucky attract these type of tech investments, bill sponsor Rep. Jim DeCesare told the committee.
DeCesare added that the bill will help the Commonwealth compete with states like Tennessee with the state’s low cost energy and other assets along with the incentives offered with the new designation.
House Bill 237 now heads to the House for a floor vote.