Kentucky Statutes 157.618 – Emergency and targeted investment fund — Purposes — Reimbursement requirement — Administrative regulations — Annual report
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(1) The emergency and targeted investment fund is hereby created as a restricted fund in the State Treasury, to be administered by the School Facilities Construction Commission.
(2) (a) Notwithstanding KRS § 45.229 or any other provision of the Kentucky Revised Statutes, any appropriations to the School Facilities Construction Commission that have not been expended at the end of a fiscal year shall not lapse but shall be transferred to the emergency and targeted investment fund. The fund may also receive other appropriations from the General Assembly and reimbursements from local school districts.
(b) Notwithstanding KRS § 45.229, amounts remaining in the emergency and targeted investment fund at the end of a fiscal year shall not lapse but shall be carried forward to the next fiscal year, to be used for the purposes set forth in this section.
(3) Notwithstanding KRS § 157.620 and KRS § 157.622, the commission may use moneys in the fund to:
(a) Offer grants for the purposes of financing the construction and equipping of new facilities, or the major renovation of current facilities, if a local school district’s facilities are:
1. Destroyed or severely damaged by an emergency. For the purposes of this paragraph, “emergency” means a condition that arises from an accident, catastrophe, or other unforeseen occurrence such as a fire, storm, flood, or other event that involves unusual danger to the lives or property of area residents; or
2. Destroyed or severely damaged through a criminal or negligent act; or
(b) Award a cash grant to a school district to assist in bringing the school up to code if:
1. A school building is to be closed by a state or federal official or agency, including the state fire marshal or the Department for Environmental Protection; and
2. The Kentucky Department of Education has declared the situation to be an emergency.
(4) If a school district receives assistance from the commission under this section and subsequently, as a result of litigation or insurance, receives funds for the original facility, the school district shall reimburse the fund an amount equal to the amount received pursuant to this section. If the litigation or insurance receipts are less than the amount received under this section, the district shall reimburse the fund an amount equal to the amount received as a result of litigation or insurance, less the district’s costs and legal fees in securing the judgment or payment.
(5) The commission, in cooperation with the department, shall promulgate administrative regulations under KRS Chapter 13A establishing the process to apply for and receive funds from the emergency and targeted investment fund.
(6) By October 1 of each year, the commission shall provide a report on the fund’s activities to the Legislative Research Commission.
Effective: April 27, 2016
History: Amended 2016 Ky. Acts ch. 138, sec. 4, effective April 27, 2016. — Created
2014 Ky. Acts ch. 102, sec. 32, effective July 15, 2014.
2022-2024 Budget Reference. See State/Executive Branch Budget, 2022 Ky. Acts ch.
199, Pt. I, A, 27, (2) at 1650.
2022-2024 Budget Reference. See State/Executive Branch Budget, 2022 Ky. Acts ch.
199, Pt. I, A, 27, (3) at 1651.
2022-2024 Budget Reference. See State/Executive Branch Budget, 2022 Ky. Acts ch.
199, Pt. I, A, 27, (4) at 1651-1652.
(2) (a) Notwithstanding KRS § 45.229 or any other provision of the Kentucky Revised Statutes, any appropriations to the School Facilities Construction Commission that have not been expended at the end of a fiscal year shall not lapse but shall be transferred to the emergency and targeted investment fund. The fund may also receive other appropriations from the General Assembly and reimbursements from local school districts.
Terms Used In Kentucky Statutes 157.618
- 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
- Federal: refers to the United States. See Kentucky Statutes 446.010
- 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.
- Litigation: A case, controversy, or lawsuit. Participants (plaintiffs and defendants) in lawsuits are called litigants.
- 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
(b) Notwithstanding KRS § 45.229, amounts remaining in the emergency and targeted investment fund at the end of a fiscal year shall not lapse but shall be carried forward to the next fiscal year, to be used for the purposes set forth in this section.
(3) Notwithstanding KRS § 157.620 and KRS § 157.622, the commission may use moneys in the fund to:
(a) Offer grants for the purposes of financing the construction and equipping of new facilities, or the major renovation of current facilities, if a local school district’s facilities are:
1. Destroyed or severely damaged by an emergency. For the purposes of this paragraph, “emergency” means a condition that arises from an accident, catastrophe, or other unforeseen occurrence such as a fire, storm, flood, or other event that involves unusual danger to the lives or property of area residents; or
2. Destroyed or severely damaged through a criminal or negligent act; or
(b) Award a cash grant to a school district to assist in bringing the school up to code if:
1. A school building is to be closed by a state or federal official or agency, including the state fire marshal or the Department for Environmental Protection; and
2. The Kentucky Department of Education has declared the situation to be an emergency.
(4) If a school district receives assistance from the commission under this section and subsequently, as a result of litigation or insurance, receives funds for the original facility, the school district shall reimburse the fund an amount equal to the amount received pursuant to this section. If the litigation or insurance receipts are less than the amount received under this section, the district shall reimburse the fund an amount equal to the amount received as a result of litigation or insurance, less the district’s costs and legal fees in securing the judgment or payment.
(5) The commission, in cooperation with the department, shall promulgate administrative regulations under KRS Chapter 13A establishing the process to apply for and receive funds from the emergency and targeted investment fund.
(6) By October 1 of each year, the commission shall provide a report on the fund’s activities to the Legislative Research Commission.
Effective: April 27, 2016
History: Amended 2016 Ky. Acts ch. 138, sec. 4, effective April 27, 2016. — Created
2014 Ky. Acts ch. 102, sec. 32, effective July 15, 2014.
2022-2024 Budget Reference. See State/Executive Branch Budget, 2022 Ky. Acts ch.
199, Pt. I, A, 27, (2) at 1650.
2022-2024 Budget Reference. See State/Executive Branch Budget, 2022 Ky. Acts ch.
199, Pt. I, A, 27, (3) at 1651.
2022-2024 Budget Reference. See State/Executive Branch Budget, 2022 Ky. Acts ch.
199, Pt. I, A, 27, (4) at 1651-1652.