Kentucky Statutes 157.620 – School district participation requirements
Current as of: 2024 | Check for updates
|
Other versions
(1) To participate in the school construction funding program, the district must have unmet needs as defined by KRS § 157.615 and must meet the following eligibility criteria:
(a) Commit at least an equivalent tax rate of five cents ($0.05) to debt service, new facilities, or major renovations of existing school facilities as defined by KRS § 157.440. A district that levies the five cents ($0.05) and has not accepted an official offer of assistance from the School Facilities Construction Commission, made pursuant to KRS § 157.611, may use receipts from the levy for other purposes as determined by the district board of education.
(b) On July 1 of odd-numbered years, the district board of education shall restrict all available local revenue, as defined by KRS § 157.615, for school building construction, to be utilized in accordance with the priorities determined by the most current school facilities plan approved by the Kentucky Board of Education.
(2) Interest earned on restricted funds required by this section shall become a part of the restricted funds.
(3) Funds restricted by the requirements of this section may be used by the district for projects or a portion thereof as listed in priority order on the approved school facilities plan prior to receiving state funds. Any local school district which is not an eligible district may be permitted, upon written application to the Department of Education, to transfer funds restricted by KRS § 157.611 to KRS § 157.640 for other school purposes.
(4) Not later than October 15 of the year immediately preceding an even-numbered year regular session of the General Assembly, the Kentucky Board of Education shall submit a statement to the School Facilities Construction Commission certifying the following in each district:
(a) The amount of school facility construction needs in each district; (b) The amount of available local revenue in each district; and
(c) That the district has or has not met the eligibility criteria established by subsection (1) of this section.
(5) Construction needs shall be those needs specified in the school facilities plan approved by the Kentucky Board of Education as of June 30 of the year preceding an even-numbered year regular session of the General Assembly.
Effective: June 21, 2001
History: Amended 2001 Ky. Acts ch. 58, sec. 16, effective June 21, 2001; and ch. 165, sec. 2, effective June 21, 2001. — Amended 1996 Ky. Acts ch. 362, sec. 6, effective July 15, 1996. — Amended 1994 Ky. Acts ch. 435, sec. 2, effective July 15, 1994. — Amended 1992 Ky. Acts ch. 251, sec. 1, effective July 14, 1992; and ch. 352, sec. 1, effective July 14, 1992. — Amended 1990 Ky. Acts ch. 476, Pt. IV, sec. 193, effective July 13, 1990; and ch. 518, sec. 6, effective July 13, 1990. — Amended
1988 Ky. Acts ch. 356, sec. 1, effective April 10, 1988. — Created 1985 (1st Extra. Sess.) Ky. Acts ch. 10, sec. 29, effective July 29, 1985.
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.
Legislative Research Commission Note (6/21/2001). This section was amended by
2001 Ky. Acts chs. 58 and 165, which do not appear to be in conflict and have been codified together.
(a) Commit at least an equivalent tax rate of five cents ($0.05) to debt service, new facilities, or major renovations of existing school facilities as defined by KRS § 157.440. A district that levies the five cents ($0.05) and has not accepted an official offer of assistance from the School Facilities Construction Commission, made pursuant to KRS § 157.611, may use receipts from the levy for other purposes as determined by the district board of education.
Terms Used In Kentucky Statutes 157.620
- 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
- 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) On July 1 of odd-numbered years, the district board of education shall restrict all available local revenue, as defined by KRS § 157.615, for school building construction, to be utilized in accordance with the priorities determined by the most current school facilities plan approved by the Kentucky Board of Education.
(2) Interest earned on restricted funds required by this section shall become a part of the restricted funds.
(3) Funds restricted by the requirements of this section may be used by the district for projects or a portion thereof as listed in priority order on the approved school facilities plan prior to receiving state funds. Any local school district which is not an eligible district may be permitted, upon written application to the Department of Education, to transfer funds restricted by KRS § 157.611 to KRS § 157.640 for other school purposes.
(4) Not later than October 15 of the year immediately preceding an even-numbered year regular session of the General Assembly, the Kentucky Board of Education shall submit a statement to the School Facilities Construction Commission certifying the following in each district:
(a) The amount of school facility construction needs in each district; (b) The amount of available local revenue in each district; and
(c) That the district has or has not met the eligibility criteria established by subsection (1) of this section.
(5) Construction needs shall be those needs specified in the school facilities plan approved by the Kentucky Board of Education as of June 30 of the year preceding an even-numbered year regular session of the General Assembly.
Effective: June 21, 2001
History: Amended 2001 Ky. Acts ch. 58, sec. 16, effective June 21, 2001; and ch. 165, sec. 2, effective June 21, 2001. — Amended 1996 Ky. Acts ch. 362, sec. 6, effective July 15, 1996. — Amended 1994 Ky. Acts ch. 435, sec. 2, effective July 15, 1994. — Amended 1992 Ky. Acts ch. 251, sec. 1, effective July 14, 1992; and ch. 352, sec. 1, effective July 14, 1992. — Amended 1990 Ky. Acts ch. 476, Pt. IV, sec. 193, effective July 13, 1990; and ch. 518, sec. 6, effective July 13, 1990. — Amended
1988 Ky. Acts ch. 356, sec. 1, effective April 10, 1988. — Created 1985 (1st Extra. Sess.) Ky. Acts ch. 10, sec. 29, effective July 29, 1985.
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.
Legislative Research Commission Note (6/21/2001). This section was amended by
2001 Ky. Acts chs. 58 and 165, which do not appear to be in conflict and have been codified together.