Topeka — Securities Commissioner proposes amendment
Kansas Securities Commissioner Aaron Jack wants the Legislature to approve and place before voters a proposed constitutional amendment that would ban transfer of stock in companies formed under Kansas law to the federal government.
Jack said his proposal was prompted by the financial crisis and federal bailouts that started in 2008.
"In its new-found role as controlling shareholder of private enterprise, the federal government pressured these companies to take actions that are not intended to maximize shareholder value," Jack wrote in a position paper on what he calls the Economic Freedom amendment.
"The proposed amendment will not prevent all types of future market intervention by the federal government, but it will prevent the most egregious form of market intervention — federal acquisition of equity stakes in state-incorporated companies," he said.
Proposed constitutional amendments require two-thirds majorities in the House and Senate before they can be put on the ballot for a statewide vote. Jack's proposal is House Concurrent Resolution 5007.
Lap dancing ban not on Merrick's agenda
House Speaker Ray Merrick, R-Stilwell, said he wasn't interested in legislation that has been introduced that would ban lap dances, prohibit nude dancing and regulate adult businesses.
"I want to work on jobs, the economy and focus on the economic issues of the state and how we can make those things better. All these little periphery things just take away from it," Merrick said when asked about the proposal.
Despite Merrick's comments, House Bill 2054 will get a hearing later this month in the House Federal and State Affairs Committee.
Holland to speak on Brownback tax plan
Sen. Tom Holland, D-Baldwin City, and the ranking Democrat on the Senate tax committee, will give a presentation on Gov. Sam Brownback's tax plan.
The event is free and open to the public. It will be at 7 p.m. Tuesday in the Capitol Federal Conference Center on the east side of Johnson County Community College.
Holland voted against tax cuts signed into law last year by Brownback that reduced income tax rates, eliminated income taxes for 191,000 business owners, and did away with tax credits aimed at helping low-income Kansans. Brownback has proposed more income tax reductions this year.
Quote of the week:
"The courts have interpreted the constitution to say they have the authority. It's time to put that debate to rest." Senate Vice President Jeff King, R-Independence, on his proposed constitutional amendment that says the Legislature would the exclusive say on how much the state will fund public schools.
9:30 a.m. — Continued hearing on Gov. Sam Brownback's tax plan, Senate Bill 78, before Senate Assessment and Taxation, room 548-South.
9 a.m. — Briefing by Kansas Secretary of State Kris Kobach on immigration to the House Federal and State Affairs Committee, room 346-South.
9:30 a.m. — Hearing on Senate Bill 45, prohibiting state funds to lobby at state and local government level, before Senate Ethics, Elections and Local Government Committee, room 159-South.
7:15 a.m. — Presentation by Kansas University Chancellor Bernadette Gray-Little before Senate Ways and Means subcommittee on education, room 546-South.