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Ahead of new forecast, Kansas banks $500M for emergencies

(AP) — Kansas will set aside $500 million to deal with future financial problems, give state employees a 5% pay raise and increase spending across state government. 

Gov. Laura Kelly signed budget legislation into law Wednesday that contains the bulk of the state’s $22 billion-plus budget for the 12 months beginning July 1, aside from money for the state’s public K-12 schools. 

Kelly signed the measure ahead of a meeting Wednesday of state officials and university economists to draft a new forecast for state tax collections through June 2023. 

The new forecast was expected to be more optimistic than the previous one issued in November.

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