LOUISVILLE, Ky. — Gov. Andy Beshear has announced the largest revenue surplus in the history of Kentucky.
According to Beshear, the general fund receipts for the fiscal year totaled more than $15 billion, exceeding budgeted estimates by $1.4 billion.
It marks the third consecutive year the general fund has seen a budget surplus of more than $1 billion.
“It's an exciting time with a lot of potential out there to grab a hold of and make sure we make this state everything we've always dreamed up that we turn our brain drain into a brain game. And we ensure that no matter how big our kids dream, they can chase those dreams right here in Kentucky,” Beshear said.
Beshear also announced the state earned back-to-back Gold Shovel Awards.
The national publication Area Development cited the commonwealth’s strong gains in attracting new business and job growth.
“We continue to see an economy that is on fire, all while we have lowered income and property taxes for our families,” Beshear said.
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