- The debt service ratio is lower than what was proposed by the Governor and the House – 6.7%.
- The structural imbalance is lower than what was proposed by the Governor and the House – $207.7 million.
- Fully funds the increased cost of the actuarially required contribution (ARC) to the Kentucky Employees Retirement System and the Kentucky State Police Retirement System.
Affordable Care Act
- The budget prohibits state funds from being used to implement Affordable Care Act.
- Provides close to $6 billion for SEEK appropriation .
- Increases the SEEK base to $3,911 in the first year, $3,981 in the second year.
- Unexpended SEEK funds will be applied to the KTRS.
- Provides salary increases for public school teachers and staff.
- Provides an additional $18.7 million in the second year for preschool children services for four-year-olds whose family income within 160% of the federal poverty level.
- Reduced funding by 1.5% rather than the 2.5% proposed by the Governor and the House.
- Allows all KCTCS school to move forward with projects, funded by a combination of local contributions and student fees approved by the local KCTCS board.
- Approves the first pay raise for state employees since 2008.