154.35.040 Kentucky Research and Development Infrastructure fund. - Kentucky Statutes

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Page 1 of 1 154.35-040 Kentucky Research and Development Infrastructure fund. There is established a fund entitled the "Kentucky Research and Development
Infrastructure Fund" for the purposes and benefit of the Kentucky Research and
Development Infrastructure. The fund may receive state appropriations, gifts, grants, 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 Finance and Administration
Cabinet. Any unallotted or unencumbered balances in the fund shall be invested as
provided in KRS 42.500(6), and 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 Research and Development Infrastructure. Effective: July 15, 1996
History: Amended 1996 Ky. Acts ch. 194, sec. 65, effective July 15, 1996. -- Created 1994 Ky. Acts ch. 508, sec. 50, effective July 15, 1994.