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164.7911 Strategic Investment and Incentive Funding Program -- Trust funds
-- Interest -- Appropriations.
(1)
(2)
There is established and created in the Council on Postsecondary Education a
Strategic Investment and Incentive Funding Program for postsecondary
education to consist of a system of strategic financial assistance awards to
institutions, systems, agencies, and programs of postsecondary education to
advance the goals of postsecondary education as stated in KRS 164.003(2).
There are established in the State Treasury the following individual strategic
investment and incentive trust funds:
(a) A research challenge trust fund;
(b) A comprehensive university excellence trust fund;
(c) A technology initiative trust fund;
(d) A physical facilities trust fund;
(e) A postsecondary workforce development trust fund; and
(f) A student financial aid and advancement trust fund.
The funding program and the individual trust funds are created to provide
financial assistance to the institutions, systems, agencies, and programs of
postsecondary education each fiscal biennium. It is the intent of the General
Assembly to make appropriations, including general fund appropriations, each
fiscal biennium to each of the individual trust funds in the funding program in a
form and manner consistent with the strategic agenda adopted by the Council
on Postsecondary Education. Appropriations made to individual trust funds in
the Strategic Investment and Incentive Funding Program shall not lapse at the
end of a fiscal year but shall be carried forward in the respective trust fund
accounts and shall be available for allotment for their respective purposes in
the next fiscal year.
Effective:July 15, 2008
History: Amended 2008 Ky. Acts ch. 113, sec. 12, effective July 15, 2008. -Created 1997 (1st Extra. Sess.) Ky. Acts ch. 1, sec. 7, effective May 30, 1997.
2014-2016 Budget Reference. See State/Executive Branch Budget, 2014 Ky. Acts
ch. 117, Pt. I, K, 1, (2) at 655.
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