FRANKFORT, Ky. (Feb. 5, 2014) – The Kentucky State Senate approved a measure, 23-15, today that would abolish the state office of Treasurer.
Senate Bill 58, sponsored by Sen. Chris McDaniel, R-Latonia, would amend the state constitution to dissolve the State Treasurer’s office at the end of the current term.
McDaniel told lawmakers the office has become obsolete. “Today, the office performs very few functions that are not also performed by the Governor’s Finance Administration Cabinet,” he said.
McDaniel said the duties would be transferred to the Finance Cabinet and state Auditor’s Office.
Those opposing the bill included Senate Democratic Floor Leader Sen. R.J. Palmer, D-Winchester, who said the Treasurer’s Office provides a needed check and balance for the state’s finances.
If the measure becomes law, the question will be posed to voters for final ratification in the 2014 general election in November.
SB 58 now goes to the House of Representatives for consideration.