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164.7917 Research challenge trust fund.
(1)
(2)
(a)
The research challenge trust fund created by KRS 164.7911 may include
separate, subsidiary programs and related accounts, such as an
Endowed Professorship Matching Program, an Endowed Chairs Matching
Program, an External Research Grant Matching Program, a Graduate
Assistant Program, a Junior Faculty Research Encouragement Program,
or other programs and related accounts as determined through the
biennial budget process for the Council on Postsecondary Education.
(b) Appropriations to the research challenge trust fund are to encourage
research activities at the University of Kentucky and at the University of
Louisville so that these institutions may achieve the goals established in
KRS 164.003(2).
(c) Funds appropriated to the research challenge trust fund shall be
apportioned two-thirds (2/3) to the University of Kentucky and one-third
(1/3) to the University of Louisville.
The Council on Postsecondary Education shall develop the criteria and
process for submission of an application under this section. The evaluation of
all applications for support of specific faculty research projects, if such projects
are included in the university's plan for use of research trust funds, shall be
subject to review and ranking by an external panel of experts appointed
according to guidelines and procedures approved by the council in consultation
with the University of Kentucky and the University of Louisville. The University
of Kentucky and the University of Louisville may apply to the council for
financial assistance from the research challenge trust fund. The council shall
determine the matching funds or internal reallocation requirements from the
applicants to qualify for funding. Financial assistance that may be awarded by
the council shall be consistent with the adopted strategic agenda, the biennial
budget process, and the availability of any resources to the research challenge
trust fund.
Effective:May 30, 1997
History: Created 1997 (1st Extra. Sess.) Ky. Acts ch. 1, sec. 10, effective May 30,
1997.
2012-2014 Budget Reference. See State/Executive Branch Budget, 2012 Ky. Acts
ch. 144, Pt. I, K, 1, (2) at 1134.
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