41.400 Child victims' trust fund -- Limitation on disbursement. - Kentucky Statutes

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Page 1 of 1 41.400 Child victims' trust fund -- Limitation on disbursement. (1) The child victims' trust fund is created as a separate fund in the office of the State Treasurer. The fund shall be expended only as provided in this section. (2) The State Treasurer shall credit to the trust fund all amounts received for this purpose and any amounts received under KRS 141.440. (3) The State Treasurer shall invest trust fund money in the same manner as surplus funds are invested. Earnings shall be credited to the trust fund. (4) Until the total amount of assets in the trust fund exceeds twenty million dollars ($20,000,000), not more than one-half of the money contributed to the trust fund
each year, plus the earnings credited to the trust fund during the previous fiscal year,
and the money earned by the sale of child victims' trust fund license plates pursuant
to KRS Chapter 186, shall be available for disbursement upon the authorization of
the state board as provided in KRS 15.935. After such time that the State Treasurer
certifies that the assets in the trust fund exceed twenty million dollars
($20,000,000), only the earnings credited to the trust fund shall be available for
disbursement upon the authorization of the state board as provided in KRS 15.935. (5) Funds granted or funds received as gifts or donations to the child victims' trust fund shall be available for disbursement upon appropriation by the General Assembly,
and funds authorized for expenditure shall not be considered assets for purposes of
subsection (4) of this section. Effective: June 20, 2005
History: Amended 2005 Ky. Acts ch. 133, sec. 9, effective June 20, 2005. -- Amended 1996 Ky. Acts ch. 366, sec. 9, effective July 15, 1996. -- Created 1984 Ky. Acts
ch. 382, sec. 13, effective July 13, 1984.