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Senate approves bill to limit General Fund debt

FRANKFORT, Ky. (AP) - The Kentucky Senate has approved a bill to
limit General Fund debt to 6 percent of general revenue.
Just hours after the Senate State and Local Government Committee
passed the bill, it was brought to the floor of the Senate on
Wednesday and passed 34-2.
Democratic Sens. Perry Clark of Louisville and Walter Blevins of
Morehead cast the only votes against it.
The sponsor, Republican Sen. Joe Bowen of Owensboro, said the
bill would not apply to the Road Fund, which has its source of
revenue, the gas tax, or to the state's universities and the
Kentucky Infrastructure Authority.
The sponsor said Kentuckians are "crying out for fiscal
restraint," and that Kentucky is behind other states that have
enacted similar measures.
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The legislation is Senate Bill 1.

(Copyright 2012 by The Associated Press. All Rights Reserved.)


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