Lawmakers agree to borrow $75 million


FRANKFORT, Ky. (AP) -Kentucky lawmakers have agreed to borrow $75 million to fix up the park system and woo companies to locate in Kentucky.

House Bill 268 would borrow $50 million for maintenance projects at Kentucky’s sprawling state park system plus another $25 million for economic development.

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The Senate approved the bill 36-0. The House approved the bill 76-20. It now heads to Gov. Matt Bevin’s desk. He has 10 days, not including Sunday, to sign the bill, veto it or let it become law without his signature.

The new spending comes after lawmakers in the Republican-dominated legislature agreed Wednesday to lower revenue by $105 million a year so they could give a tax break to some banks and exempt nonprofits from some sales taxes.