UPDATE: Lawmakers Compromise on Tax Oversight Bill

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The House and Senate have passed a bill that would strengthen accountability of Kentucky's 1,200-plus taxing districts that collect revenue for a variety of local government entities ranging from fire departments to sewage and water.

The measure is a compromise. It lacks a Senate amendment that would have given county officials the ability to veto increases in taxes and fees. But as part of a deal, the proposal requires local taxing districts to provide annual financial reports to county officials, something that doesn't always happen.

The measure also contains its original provision to require the annual financial reports to be displayed online.

Both chambers passed the bill Tuesday afternoon. It now goes to the governor.

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