154.20.410 Kentucky alternative fuel and renewable energy fund. - Kentucky Statutes

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Page 1 of 1 154.20-410 Kentucky alternative fuel and renewable energy fund. There is created in the State Treasury the "Kentucky alternative fuel and renewable
energy fund" for the purpose of enabling Kentucky-based companies to undertake
research and development and commercialization in the area of alternative fuel or
renewable energy. The fund may receive state appropriations, gifts, grants, federal funds,
revolving funds, and any other funds both public and private. Moneys deposited in the
fund shall be disbursed by the State Treasurer upon the warrant of the secretary of the
Finance and Administration Cabinet. Any unallocated or unencumbered balances in the
fund shall be invested as provided in KRS 42.500(9). Any income earned from the
investments along with the unallotted or unencumbered balances in the fund shall not
lapse, and shall be deemed a trust and agency account and made available solely for the
purposes and benefits of the Kentucky Alternative Fuel and Renewable Energy Fund
Program. Effective: August 30, 2007
History: Created 2007 (2d Extra. Sess.) Ky. Acts ch. 1, sec. 47, effective August 30, 2007.