Kentucky Statutes 205.6407 – Hospital Medicaid assessment fund
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(1) There is hereby established in the State Treasury the hospital Medicaid assessment fund for the purpose of holding assessments collected under KRS § 205.6406 and funds transferred pursuant to KRS § 205.6408.
(2) All assessments collected shall be deposited into the fund and transferred to the department on a quarterly basis to be distributed only for the purpose of administering the provisions of KRS § 205.6406.
(3) Any fund amounts remaining in the fund after the cessation of the collection of the assessment under KRS § 205.6406 shall be refunded to qualifying hospitals on a pro rata basis based upon the assessments paid by each qualifying hospital for the program year that ended immediately before the cessation of the collection of the assessment.
(4) Notwithstanding KRS § 45.229, fund amounts not expended at the close of a fiscal year shall not lapse but shall be carried forward into the next fiscal year and shall be used to reduce the assessments in the subsequent program year.
(5) Any interest earnings of the fund shall become a part of the fund and shall not lapse. (6) Moneys deposited into the fund are hereby appropriated for the purposes set forth in
this section and shall not be appropriated or transferred by the General Assembly
for any other purpose.
Effective: June 27, 2019
History: Created 2019 Ky. Acts ch. 114, sec. 3, effective June 27, 2019.
(2) All assessments collected shall be deposited into the fund and transferred to the department on a quarterly basis to be distributed only for the purpose of administering the provisions of KRS § 205.6406.
Terms Used In Kentucky Statutes 205.6407
- 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 a part of the United States, includes territories, outlying possessions, and the District of Columbia. See Kentucky Statutes 446.010
- Year: means calendar year. See Kentucky Statutes 446.010
(3) Any fund amounts remaining in the fund after the cessation of the collection of the assessment under KRS § 205.6406 shall be refunded to qualifying hospitals on a pro rata basis based upon the assessments paid by each qualifying hospital for the program year that ended immediately before the cessation of the collection of the assessment.
(4) Notwithstanding KRS § 45.229, fund amounts not expended at the close of a fiscal year shall not lapse but shall be carried forward into the next fiscal year and shall be used to reduce the assessments in the subsequent program year.
(5) Any interest earnings of the fund shall become a part of the fund and shall not lapse. (6) Moneys deposited into the fund are hereby appropriated for the purposes set forth in
this section and shall not be appropriated or transferred by the General Assembly
for any other purpose.
Effective: June 27, 2019
History: Created 2019 Ky. Acts ch. 114, sec. 3, effective June 27, 2019.