From Jonathan Miller

WE NEED YOUR HELP -- TODAY!

Last night, the state Senate passed a budget bill that raids Kentucky's Affordable Prepaid Tuition (KAPT) Fund to the tune of $13.7 million, while spending $15 million for a new basketball gym that neither the House nor Governor Fletcher had requested and that University of Kentucky officials say is not a priority.

The KAPT fund includes the hard-earned personal savings of nearly 9000 Kentucky families who have invested their own personal money to save for their kids' and grandkids' education. The Senate budget bill would also shut down KAPT to any new enrollment.

KAPT makes it easier for families to afford a college education for their kids by guaranteeing tomorrow's education at lower prices today. A January study from an independent actuarial firm declared that the KAPT fund is financially stable in the short and long term and has an actuarial surplus of more than $2 million.

This morning, the Office of the Attorney General issued a letter with the opinion that the General Assembly cannot raid a fund like KAPT -- such an action would be unconstitutional. However, even though a court would likely strike down this provision, we hope that the House-Senate budget conference committee will delete it before the budget receives final approval from the legislature.

I love Kentucky basketball, but raiding a fund that holds the personal college savings of thousands of Kentucky families is inexcusable, unconstitutional and immoral. With the prepaid tuition program financially healthy, due to the excellent management of the Kentucky Higher Education Assistance Authority, it would also be unwise and unjust to deny this opportunity to affordable higher education to thousands of new families.

The House-Senate budget conference committee will begin its final deliberations TONIGHT.

PLEASE CONTACT YOUR LEGISLATOR AND YOUR LOCAL MEDIA TODAY. Tell them that we want the budget bill conferees to support the House budget -- which received unanimous, bipartisan support -- and which protects the KAPT program. Tell them to reject the Senate's illegal raid on college savings accounts.

Here is what you can do:

1. Call your legislator toll-free at (800) 372-7181.
2. Email your legislator at FIRST NAME.LAST NAME@lrc.ky.gov
-->(Example: David.Williams@lrc.ky.gov)
3. Call your local radio station talk shows and write letters to the editor of
your local paper.

Your actions TODAY could help us save a valuable program -- a model for state government which provides educational opportunity for Kentucky families without costing taxpayers a dime.

Thanks for your help!

Jonathan Miller
State Treasurer