Kentucky Statutes 164.7923 – Physical facilities trust fund
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(1) The physical facilities trust fund created by KRS § 164.7911 is intended to provide sufficient financial assistance for unexpected contingencies for the construction, improvement, renovation, or expansion of the physical facilities of the postsecondary education system.
(2) The Council on Postsecondary Education shall develop the criteria and process for submission of an application under this section. The physical facilities trust fund shall not replace the existing capital construction provisions and appropriation provisions of state law. Each university or the Kentucky Community and Technical College System may apply to the council for financial assistance from the physical facilities trust fund. Financial assistance that may be awarded by the council shall be consistent with the adopted strategic agenda, the biennial budget process, and the availability of any resources to the physical facilities trust fund.
Effective: May 30, 1997
History: Created 1997 (1st Extra. Sess.) Ky. Acts ch. 1, sec. 13, effective May 30,
1997.
2022-2024 Budget Reference. See State/Executive Branch Budget, 2022 Ky. Acts ch.
199, Pt. I, J, 1, (1) at 1692.
(2) The Council on Postsecondary Education shall develop the criteria and process for submission of an application under this section. The physical facilities trust fund shall not replace the existing capital construction provisions and appropriation provisions of state law. Each university or the Kentucky Community and Technical College System may apply to the council for financial assistance from the physical facilities trust fund. Financial assistance that may be awarded by the council shall be consistent with the adopted strategic agenda, the biennial budget process, and the availability of any resources to the physical facilities trust fund.
Terms Used In Kentucky Statutes 164.7923
- 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
- Council: means the Council on Postsecondary Education created in KRS §. See Kentucky Statutes 164.001
- Kentucky Community and Technical College System: means the system composed of public community and technical colleges, including those postsecondary institutions operated by the former Cabinet for Workforce Development and those community colleges in the University of Kentucky Community College System on May 30, 1997. See Kentucky Statutes 164.001
- State: when applied to a part of the United States, includes territories, outlying possessions, and the District of Columbia. See Kentucky Statutes 446.010
- Strategic agenda: means the state strategic postsecondary education agenda described in KRS §. See Kentucky Statutes 164.001
Effective: May 30, 1997
History: Created 1997 (1st Extra. Sess.) Ky. Acts ch. 1, sec. 13, effective May 30,
1997.
2022-2024 Budget Reference. See State/Executive Branch Budget, 2022 Ky. Acts ch.
199, Pt. I, J, 1, (1) at 1692.