Kansas Statutes 12-5256. Rural housing incentives state housing trust fund; expenditures; transfers from the state economic development initiatives fund; purposes of loans or grants; report to legislature
Terms Used In Kansas Statutes 12-5256
- Appropriation: The provision of funds, through an annual appropriations act or a permanent law, for federal agencies to make payments out of the Treasury for specified purposes. The formal federal spending process consists of two sequential steps: authorization
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
- Fiscal year: The fiscal year is the accounting period for the government. For the federal government, this begins on October 1 and ends on September 30. The fiscal year is designated by the calendar year in which it ends; for example, fiscal year 2006 begins on October 1, 2005 and ends on September 30, 2006.
- State: when applied to the different parts of the United States, includes the District of Columbia and the territories. See Kansas Statutes 77-201
(a) All expenditures from the state housing trust fund made for the purposes of Kan. Stat. Ann. §§ 12-5253 through 12-5255, and amendments thereto, shall be made in accordance with appropriation acts upon warrants of the director of accounts and reports issued pursuant to vouchers approved by the president of the Kansas housing resources corporation.
(b) (1) On July 1, 2022, July 1, 2023, and July 1, 2024, the director of accounts and reports shall transfer $2,000,000 from the state economic development initiatives fund to the state housing trust fund established by Kan. Stat. Ann. § 74-8959, and amendments thereto.
(2) Notwithstanding the provisions of Kan. Stat. Ann. § 74-8959, and amendments thereto, to the contrary, during fiscal year 2023, fiscal year 2024 and fiscal year 2025, moneys in the state housing trust fund shall be used solely for the purpose of loans or grants to cities or counties for infrastructure or housing development in rural areas. During such fiscal years, on or before January 8, 2024, January 13, 2025, and January 12, 2026, the president of the Kansas housing resources corporation shall submit a report concerning the activities of the state housing trust fund to the house of representatives committee on appropriations and the senate committee on ways and means.