Greetings KRTA Family:
I hope this email finds you doing well considering the most recent snowstorm and frigid temperatures. This week will complete Day 17 of the 60 days session.
This week, the House introduced its state budget proposal, HB 500. The initial budget is a scaled back version and has been called the starting point in the budget process. Representative Petrie stated that government agencies could come before the budget review committee to make their case for additional spending.
At first look, The Teacher Retirement System is in good shape, but did not receive the full amount requested for the biennium. The pension looked to be fully funded, but the health insurance fund was a little short of the full amount. There were some other administrative costs left out, but we are at the beginning stages of the budgeting process.
· HB 183 TAXATION OR RETIREMENT DISTRIBUTION
This bill would amend KRA 141.019 to increase retirement distributions exclusion from $31,110 to $41,110 for taxable years beginning on or after January 1, 2027.
KRTA FULLY SUPPORTS THIS BILL AND WILL BE WATCHING IT CLOSELY
· SB 51 AN ACT PROPOSING A NEW SECTION OF THE CONSTITUTION OF KENTUCKY RELATING TO PROPERTY EXEMPTION TAXATION.
This bill proposes to create a new section of the constitution of Kentucky exempting homeowners who are 65 years of age or older from any increase in the valuation of their permanent residence. If passed, this would provide ballot language and be submitted to voters for ratification or rejection. Passed the Senate 37-0 and is currently in the House Committee on Committees.
KRTA FULLY SUPPORTS THIS BILL AND WILL BE WATCHING IT CLOSELY
To keep track of other educational related bills please CLICK HERE.
CLICK HERE TO GO TO OUR KRTA LEGISLATIVE RESOURCE PAGE
CLICK HERE TO RECEIVE OUR TEXT ALERTS FROM OUR TEXTING SERVICE
Visit TeachFrankfort.org to learn more about our 2026 Legislative Priorities, as well as the history and background of our legislative efforts.
If you have any questions or concerns please call us at the KRTA Headquarters at (800) 551-7979.
Have a wonderful weekend!
Greg Roush, Executive Director