- Associated Press - Tuesday, February 4, 2014

FRANKFORT, Ky. (AP) - The Kentucky Senate has passed a proposed ballot measure seeking to abolish the state treasurer’s office.

The proposal would amend the Kentucky Constitution to allow the treasurer’s duties to shift to the state Finance Cabinet.

The measure cleared the Senate on a 23-15 vote Tuesday. It now goes to the state House.

Republicans backing the measure say it could save the state $1.4 million each year.

State Treasurer Todd Hollenbach disputed that, saying abolishing his office wouldn’t save any money.

Democrats opposing the bill said the treasurer’s office provides needed oversight of state finances.

Minority Floor Leader R.J. Palmer said the treasurer’s office generates more revenue than other state constitutional offices.

Republicans said the state auditor would provide needed oversight of executive spending.


The legislation is Senate Bill 58.

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