(Jamie) Welcome back to Farm Factor and this week’s Kansas Farm Bureau Update.
(Warren Parker) When the Kansas Legislature returned to wrap up its work for the 2016 Legislative session, the main task was to address a revenue shortfall of $140 million dollars for Fiscal Year 2016 and $152 million for Fiscal Year 2017. While there was discussion of reimposing the state income tax on non-wage income, there wasn’t much support. So the Legislature passed a plan that balanced the budget through account shuffling and cuts. The final budget bill redirects funds intended for the Department of Transportation into the General Fund and also allows delayed payment of $90 million dollars to the Kansas Public Employees Retirement System. It does eliminate the potential for any cuts to K-12 education. Unless the Kansas Supreme Court finds the Legislature needs to re-evaluate the K-12 funding formula that passed earlier this year, it will only meet again to officially adjourn sine die on June 1st. After that the campaign season will begin in earnest.
(Jamie) Hope you enjoyed this week’s Kansas Farm Bureau Update. Next learn about the economic impact of BRD on the cattle industry.