Kentucky Statutes 56.860 – Purpose of KRS 56.860 to 56.869
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The purpose of KRS § 56.860 to KRS § 56.869 is to create an independent commission that will take a comprehensive view of the Commonwealth’s finances and develop policies and strategies that will seek to minimize the impact of fluctuating receipts of revenues on the budget of the Commonwealth and of fluctuating interest rates on the Commonwealth’s interest-sensitive assets and interest-sensitive liabilities.
Effective: May 30, 1997
History: Created 1997 (1st Extra. Sess.) Ky. Acts ch. 4, sec. 1, effective May 30, 1997.
Effective: May 30, 1997
Terms Used In Kentucky Statutes 56.860
- Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
- Commission: means the State Property and Buildings Commission. See Kentucky Statutes 56.440
- Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity.
History: Created 1997 (1st Extra. Sess.) Ky. Acts ch. 4, sec. 1, effective May 30, 1997.