Kentucky Statutes 48.715 – Emergency disaster relief account
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(1) An emergency disaster relief account is hereby created in the road fund.
(2) The account shall contain moneys directly appropriated by the General
Assembly from the road fund.
(3) Moneys in the emergency disaster relief account shall only be expended on projects specifically designated by the General Assembly in a regular or special session.
(4) Interest earned on moneys in the account shall accrue to the account.
(5) All sums appropriated or deposited to the account shall not lapse at the close of the fiscal year but shall carry forward into the next fiscal year.
Effective:March 29, 2021
History: Created 2021 Ky. Acts ch. 156, sec. 32, effective March 29, 2021.
(2) The account shall contain moneys directly appropriated by the General
Terms Used In Kentucky Statutes 48.715
- Account: is a technical accounting term meaning a formal record in which related transactions and events, (i. See Kentucky Statutes 48.010
- 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.
- Fund: means an independent fiscal and accounting entity with a self-balancing set of accounts recording cash or other resources or both together with all related liabilities, obligations, reserves, and equities which are segregated for the purpose of carrying on specific activities in accordance with legal restrictions or other limitations, to include:
(a) "General Fund. See Kentucky Statutes 48.010 - Year: means calendar year. See Kentucky Statutes 446.010
Assembly from the road fund.
(3) Moneys in the emergency disaster relief account shall only be expended on projects specifically designated by the General Assembly in a regular or special session.
(4) Interest earned on moneys in the account shall accrue to the account.
(5) All sums appropriated or deposited to the account shall not lapse at the close of the fiscal year but shall carry forward into the next fiscal year.
Effective:March 29, 2021
History: Created 2021 Ky. Acts ch. 156, sec. 32, effective March 29, 2021.