Stumbo on Pension Sustainability Trust Fund

The Speaker insisted the Ky Lottery proceeds would maintain commitments to the KEES scholarship fund and other initiatives, and allow a two-percent growth under the proposal. Money over and above that would be put into a newly created Pension Sustainability Trust Fund. Stumbo says 300 million dollars were wagered through instant or historical racing machines in Kentucky from September 2011 through December 2012, and explains how tax receipts in excess of that amount would be dedicated to the new pension fund.

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