Kansas House Bill HB2102

Kansas 2023-2024 Regular Session

• Introduced: 1/19/23
• Refer: 1/19/23
• Report Pass: 2/16/23

Caption

Making appropriations for FY 2023 for the state treasurer for the repurchase of certain KPERS pension obligation revenue bonds.

Impact

The impact of HB2102 is primarily financial; by facilitating the repurchase of these revenue bonds, the state aims to address obligations related to public employee retirement funding. The bill underscores the importance of maintaining fiscal health in state pension plans and could relieve some immediate financial pressures on the KPERS by allowing for a more streamlined debt management approach. It represents a proactive measure to stabilize the funding status of the retirement system, which is critical for ensuring benefits for state employees.

Summary

House Bill 2102 is focused on making appropriations for the fiscal year ending June 30, 2023, specifically targeting the repurchase of certain revenue bonds tied to the Kansas public employees retirement system (KPERS). The bill appropriates $250 million from the state general fund, aimed at financing the unfunded actuarial pension liability through the repurchase of revenue bonds that could include various maturities and terms. This action is framed as a strategy to manage the financial obligations associated with KPERS more efficiently.

Contention

While specific contentions from discussions around HB2102 are not documented in the available records, financial appropriations such as these can often raise concerns about budget allocations and the prioritization of state funds. Questions may arise regarding the sufficiency of the appropriated funds to fully address the state's unfunded pension liabilities and whether such measures are sufficient compared to broader fiscal challenges faced by the state. Stakeholders may debate whether the repurchase is a wise investment of state resources in light of potential long-term impacts on state finances.