(1) The department shall transmit the amounts remitted to it by retailers as required by KRS § 142.105 to the board on a monthly basis. From each deposit, the department may deduct an amount equal to the actual operating and overhead expenses incurred in the collection and administration of the CMRS prepaid service charge, not to exceed one percent (1%) of the amount collected. The department shall report its actual expenses to the board on a quarterly basis.
(2) The department shall provide a monthly report of receipts from the CMRS prepaid service charge to the board.
(3) Moneys held by the department prior to their transfer to the board shall not be considered property of the Commonwealth and shall not be subject to appropriation by the General Assembly. Such moneys shall not be:
(a) Loaned to the Commonwealth or to any instrumentality or agency thereof;
(b) Subject to transfer to the Commonwealth or any agency or instrumentality thereof, except for purposes specifically authorized by this section; or
(c) Expended for any purpose other than a purpose authorized by KRS § 65.7621 to
65.7643.
Effective: January 1, 2017
History: Created 2016 Ky. Acts ch. 111, sec. 23, effective January 1, 2017.