Kansas

A pension study commission said last week it would consider a wide range of options for closing Kansas’ pension liabilities, including pension bonds and a shift to a 401(k)-style retirement plan for new state workers.

Kansas revenues in September totaled $562 million, the Department of Revenue reported last week, marking the sixth consecutive month of higher revenues from the previous year.

The local chapter of the Americans For Prosperity anti-tax group is challenging Wichita’s plan to provide $30 million of incentives and bonds for a downtown hotel project.

Gov. Sam Brownback’s administration is preparing a package of lower taxes and regulatory reforms that could serve as a national model, the secretary of the Kansas Department of Revenue said last week.

DALLAS — While the volume of municipal bond sales in the Southwest fell nearly 35% to $17.8 million in the first half of 2011 compared to a year earlier, industry executives haven't lacked things to do.

Kansas has offered incentives to induce state workers to retire early in an effort to reduce the payroll by 4,000 from the current 23,000 workers.

Higher contribution rates from employees and the state as a result of legislation that was passed earlier this year should reduce the unfunded liability of Kansas’ largest pension fund by $3.5 billion through 2033.

Revenue collections in July totaled $437.5 million, up 16% from July 2010, the Kansas Department of Revenue said last week. Collections topped expectations by $23.3 million.

The final official analysis of Kansas' fiscal 2011 general revenue shows collections of $5.88 billion in the year that ended June 30, up from $5.19 billion in fiscal 2010.

The commission set up to look into faster ways to bolster the finances of the Kansas Public Employees Retirement System convened last week for the first of 10 meetings. The 13-member commission is to recommend solutions to the 2012 Legislature.

Commissioners of Unified Government of Wyandotte County/Kansas City next week will consider a proposal to increase the property tax rate by 8.9% to generate $117.5 million for the city and $4.9 million for county operations.

The Kansas State Board of Education will ask lawmakers next year to fund state aid to local school districts at the full $4,492 per-student stipend as required by current state law.

The Kansas State Finance Commission has approved the budget office's request for a $600 million certificate of indebtedness for the 13th year in a row.

State revenue totaled $5.54 billion in fiscal 2011, according to preliminary data from the Kansas Department of Revenue. The total is $685 million more than in fiscal 2010, and $88 million more than April’s official forecast.

Wichita's Mid-Continent Airport will see $200 million of new facilities under a facilities proposal approved last week after a nine-month hiatus.

The House voted late last week to accept the Senate’s plan to more fully fund the Kansas Public Employees Retirement System.

The Kansas House adopted the state’s fiscal 2012 budget early in the morning of Friday the 13th on the last day of the 2011 session, sending the measure to Gov. Sam Brownback.

DALLAS — Kansas legislative negotiators reached agreement late Wednesday on a $14 billion budget for fiscal 2012 that reduces the per-pupil state aid stipend for Kansas’ 289 local school districts.

Kansas Senate leaders have reduced to $34 million the amount of bonds being sought for continuing restoration efforts at the state capitol.

State general fund tax collections topped $722 million in April, up from the $710 million expected, the Kansas Department of Revenue said last week.