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Minutes for HB2419 - Committee on Ways and Means
Short Title
State finances; transfers to and expenditures from the budget stabilization fund; transfers to the Kansas public employees retirement fund.
Minutes Content for Wed, Mar 14, 2018
Chairperson McGinn opened the hearing on HB 2419. Jill Wolters provided an overview of the bill. (Attachment 2)
Steve Bailey testified in support of the bill. The Pew Charitable Trusts believes this would improve the financial position of Kansas now and in the future. Budget Stabilization Funds exist in 47 states now and they help smooth out fluctuations. This bill sets forth clear conditions on when to use the funds from the Budget Stabilization Fund and will support efforts to manage future recessions. Mr. Bailey responded to questions from Committee members. (Attachment 3)
Alan Conroy spoke as a proponent of the bill as it provides that a portion of the funds would contribute to paying the KPERS unfunded actuarial liability and would improve the position of the KPERS fund. (Attachment 4)
Written testimony in support of the bill was submitted by Dave Trabert, Kansas Policy Institute. (Attachment 5)
There being no further conferees, Chairperson McGinn closed the hearing on HB 2419.
