164.6035 Kentucky commercialization fund. - Kentucky Statutes

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164.6035 Kentucky commercialization fund. There is established and created in the State Treasury a fund entitled the "Kentucky
Commercialization Fund" to provide seed funding for the development and
commercialization of promising technologies at and emerging from 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 Commercialization
Fund Program. Effective: July 15, 2008
History: Amended 2008 Ky. Acts ch. 98, sec. 5, effective July 15, 2008. -- Created 2000 Ky. Acts ch. 522, sec. 13, effective July 14, 2000.