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164.7919 Comprehensive university excellence trust fund.
(1)
(2)
(a)
The comprehensive university excellence trust fund created by KRS
164.7911 shall consist of six (6) separate accounts: one (1) for Eastern
Kentucky University; one (1) for Kentucky State University; one (1) for
Morehead State University; one (1) for Murray State University; one (1)
for Northern Kentucky University; and one (1) for Western Kentucky
University.
(b) Funds appropriated to the comprehensive university excellence trust fund
or any subsidiary fund created by the Council on Postsecondary
Education shall be apportioned to each of the comprehensive universities
proportional to their respective share of total general fund appropriations
in each fiscal year, excluding debt service appropriations and specialized,
noninstructional appropriations.
(c) The purpose of the comprehensive university excellence trust fund is to
provide financial assistance to encourage comprehensive universities to
develop at least one (1) nationally recognized program of distinction or at
least one (1) nationally recognized applied research program consistent
with the goals established in KRS 164.003(2).
The council shall develop the criteria and process for submission of an
application under this section. Each university may apply to the council for
financial assistance from the comprehensive university excellence 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 comprehensive university excellence trust fund.
Effective:July 15, 2008
History: Amended 2008 Ky. Acts ch. 113, sec. 13, effective July 15, 2008. -Created 1997 (1st Extra. Sess.) Ky. Acts ch. 1, sec. 11, 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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