Kentucky Statutes 42.4585 – Transfers from local government economic development fund to local government economic assistance fund — Schedule of transfers
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(1) A portion of each quarterly transfer of moneys provided for in KRS § 42.4582 shall be transferred from the local government economic development fund into the local government economic assistance fund.
(2) The amount transferred annually from the local government economic development fund into the local government economic assistance fund under the provisions of subsection (1) of this section shall be not less than an amount equal to fifteen percent (15%) of the severance and processing taxes on coal collected annually.
(3) The quarterly calculation and transfer of funds pursuant to subsections (1) and (2) of this section shall be made only after distribution of the quarterly installment of the annual amount from the prior calendar year allowed as an incentive to an approved company under KRS § 143.024 and KRS § 154.27-060.
Effective: April 11, 2012
History: Amended 2012 Ky. Acts ch. 110, sec. 14, effective April 11, 2012. — Amended 2007 (2d Extra. Sess.) Ky. Acts ch. 1, sec. 16, effective August 30, 2007. –
– Amended 2002 Ky. Acts ch. 338, sec. 2, effective July 15, 2002. — Amended 1996 (1st Extra. Sess.) Ky. Acts ch. 1, sec. 77, effective December 12, 1996. — Created
1992 Ky. Acts ch. 107, sec. 5, effective July 1, 1992.
2022-2024 Budget Reference. See State/Executive Branch Budget, 2022 Ky. Acts ch.
199, Pt. I, A, 11, (1) at 1641.
2022-2024 Budget Reference. See State/Executive Branch Budget, 2022 Ky. Acts ch.
199, Pt. I, A, 11, (2) at 1641.
2022-2024 Budget Reference. See State/Executive Branch Budget, 2022 Ky. Acts ch.
199, Pt. I, A, 11, (4) at 1641.
(2) The amount transferred annually from the local government economic development fund into the local government economic assistance fund under the provisions of subsection (1) of this section shall be not less than an amount equal to fifteen percent (15%) of the severance and processing taxes on coal collected annually.
Terms Used In Kentucky Statutes 42.4585
- branch budget: means an enactment by the General Assembly which provides appropriations and establishes fiscal policies and conditions for the biennial financial plan for the judicial branch, the legislative branch, and the executive branch, which shall include a separate budget bill for the Transportation Cabinet. See Kentucky Statutes 446.010
- Company: may extend and be applied to any corporation, company, person, partnership, joint stock company, or association. See Kentucky Statutes 446.010
- Year: means calendar year. See Kentucky Statutes 446.010
(3) The quarterly calculation and transfer of funds pursuant to subsections (1) and (2) of this section shall be made only after distribution of the quarterly installment of the annual amount from the prior calendar year allowed as an incentive to an approved company under KRS § 143.024 and KRS § 154.27-060.
Effective: April 11, 2012
History: Amended 2012 Ky. Acts ch. 110, sec. 14, effective April 11, 2012. — Amended 2007 (2d Extra. Sess.) Ky. Acts ch. 1, sec. 16, effective August 30, 2007. –
– Amended 2002 Ky. Acts ch. 338, sec. 2, effective July 15, 2002. — Amended 1996 (1st Extra. Sess.) Ky. Acts ch. 1, sec. 77, effective December 12, 1996. — Created
1992 Ky. Acts ch. 107, sec. 5, effective July 1, 1992.
2022-2024 Budget Reference. See State/Executive Branch Budget, 2022 Ky. Acts ch.
199, Pt. I, A, 11, (1) at 1641.
2022-2024 Budget Reference. See State/Executive Branch Budget, 2022 Ky. Acts ch.
199, Pt. I, A, 11, (2) at 1641.
2022-2024 Budget Reference. See State/Executive Branch Budget, 2022 Ky. Acts ch.
199, Pt. I, A, 11, (4) at 1641.