Kentucky Statutes 309.333 – Revolving fund
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(1) All licensing amounts and other moneys received by the board pursuant to the provisions of this section and KRS § 309.335 and KRS § 309.339 shall be deposited in the State Treasury to the credit of a revolving fund which is hereby established. Amounts in the fund shall be used for the purposes set forth in KRS § 309.325 to
309.339.
(2) Notwithstanding KRS § 45.229, any moneys remaining in the fund at the close of the fiscal year shall not lapse but shall be carried forward to the next fiscal year to be used for the purposes established by the board.
(3) Any interest earnings of the fund shall become part of the fund and shall not lapse. (4) The expenses of the board shall be paid from this revolving fund.
(5) Moneys deposited in the fund shall be used and are hereby appropriated for the purposes specified in KRS § 309.325 to KRS § 309.339.
Effective: June 8, 2011
History: Created 2011 Ky. Acts ch. 87, sec. 5, effective June 8, 2011.
309.339.
Terms Used In Kentucky Statutes 309.333
- 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
(2) Notwithstanding KRS § 45.229, any moneys remaining in the fund at the close of the fiscal year shall not lapse but shall be carried forward to the next fiscal year to be used for the purposes established by the board.
(3) Any interest earnings of the fund shall become part of the fund and shall not lapse. (4) The expenses of the board shall be paid from this revolving fund.
(5) Moneys deposited in the fund shall be used and are hereby appropriated for the purposes specified in KRS § 309.325 to KRS § 309.339.
Effective: June 8, 2011
History: Created 2011 Ky. Acts ch. 87, sec. 5, effective June 8, 2011.