Ky failure 2025

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Kentucky ended the 2024 fiscal year with a revenue surplus of $1.4 billion over the estimates that were used to craft the budget for the 2022-24 biennium.
Enacted in 1975, Kentuckys Motor Vehicle Reparations Act, KRS 304.39 (sometimes referred to as the No-Fault Law) has two components: personal injury protection (PIP) coverage and limitations on an individuals right to sue and be sued (tort rights).
In the fiscal year of 2024, the state of Kentucky had state debt totaling 14.49 billion U.S. dollars. However, the local government debt was much higher at 43.92 billion U.S. dollars.
FRANKFORT, Ky. (July 13, 2023) Today, Gov. The General Fund receipts for fiscal year 2023 totaled $15.1 billion, exceeding budgeted estimates by $1.4 billion. This will be the third consecutive year with a General Fund budget surplus of more than $1 billion.
Reason Foundation finds California has twice the total liabilities of any other state. California had $498 billion in total liabilities at the end of fiscal year 2022.
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