AGC President Mattingly Testifies on HB-553

February 2010

AGC of Kentucky President Mattingly testified on House Bill 553 sponsored by House Economic Development Committee Chair Rep. Palumbo of Lexington. The bill would establish a revolving construction loan fund for commercial building construction projects guaranteeing up to 25% of the cost of the project not to exceed $2 million on any single project.

Read More

Draft Budget Bill Expected,  Retainage Bill HB-317 Withdrawn

February 2010

As the clock continues to tick-tock on a session still without a formal budget proposal, the General Assembly this week stared down the barrel of what one leader called its 'defining moment,' moving ahead with what another leader called its greatest challenge since at least 1990.

That challenge: Going it alone and writing a balanced budget from scratch, without broad tax increases or Draconian program cuts -- and without working from the governor's own proposed budget, with its $780 million from presumed racetrack slots revenues to help plug a budget gap of a billion dollars or more. Lawmakers from both chambers have rejected the slots idea as unpassable this session.

The budget bill will originate in the House. But leaders from both chambers have been cooperating in 'big picture' discussions about the overall parameters of a budget approach the Senate and House could agree to. This as data was being gathered across the whole spectrum of state government, so the House budget committee could produce a specific working document to start the actual legislation moving.

Read More