Senate Passes Bill To Limit General Fund Debt

• {Frankfort, Kentucky}...The Kentucky Senate voted 34-2 Wednesday to approve a bill to limit General Fund debt to 6 percent of general revenue. Democratic Senators Perry Clark of Louisville and Walter Blevins of Morehead cast the only votes against it. The main sponsor, Republican Senator Joe Bowen of Owensboro, said the bill would not apply to the Road Fund, which has its own source of revenue, the gas tax, or to the state's universities and the Kentucky Infrastructure Authority. Senator Julian Carroll, a Frankfort Democrat and former governor, says Kentucky's debt is currently $11 billion, and the state has outspent its revenue in 10 of the last 12 years.