164.6019 Kentucky enterprise fund. - Kentucky Statutes

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164.6019 Kentucky enterprise fund. There is established and created in the State Treasury a fund entitled the "Kentucky
Enterprise Fund" for the purpose of enabling small or medium-size, Kentucky-based
companies to undertake feasibility, concept development, research and development, or
commercialization work in partnership with colleges and universities in the
Commonwealth. 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), 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 Enterprise Fund Program. Effective: July 15, 2008
History: Amended 2008 Ky. Acts ch. 98, sec. 2, effective July 15, 2008. -- Created 2000 Ky. Acts ch. 522, sec. 5, effective July 14, 2000.