Report to Kansas lawmakers documents rise in state debt

Statehouse (KSN File Photo)

TOPEKA, Kan. (AP) – A state official says Kansas should no longer be considered a “low-debt” state.

Kansas Development Finance Authority Senior Vice President Jim MacMurray made the comment Thursday in presenting a report on state debt to the Senate Ways and Means Committee.

The report from the bond-issuing agency showed that since July 2010, the amount of debt to be paid off with state tax dollars has increased 40 percent to nearly $4.5 billion.

A May 2016 report by the credit rating agency Moody’s Investors Service said Kansas has tax-supported debt of $1,534 per person and ranks 17th in the nation.

Kansas issued $1 billion in bonds in 2015 to bolster its public pension system and has issued nearly $1.2 billion in bonds for highway projects since July 2010.