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41.400 Child victims' trust fund -- Limitation on disbursement.
(1)
(2)
(3)
(4)
(5)
The child victims' trust fund is created as a separate fund in the office of the
State Treasurer. The fund shall be expended only as provided in this section.
The State Treasurer shall credit to the trust fund all amounts received for this
purpose and any amounts received under KRS 141.440.
The State Treasurer shall invest trust fund money in the same manner as
surplus funds are invested. Earnings shall be credited to the trust fund.
Until the total amount of assets in the trust fund exceeds twenty million dollars
($20,000,000), not more than one-half of the money contributed to the trust
fund each year, plus the earnings credited to the trust fund during the previous
fiscal year, and the money earned by the sale of child victims' trust fund license
plates pursuant to KRS Chapter 186, shall be available for disbursement upon
the authorization of the state board as provided in KRS 15.935. After such time
that the State Treasurer certifies that the assets in the trust fund exceed twenty
million dollars ($20,000,000), only the earnings credited to the trust fund shall
be available for disbursement upon the authorization of the state board as
provided in KRS 15.935.
Funds granted or funds received as gifts or donations to the child victims' trust
fund shall be available for disbursement upon appropriation by the General
Assembly, and funds authorized for expenditure shall not be considered assets
for purposes of subsection (4) of this section.
Effective:June 20, 2005
History: Amended 2005 Ky. Acts ch. 133, sec. 9, effective June 20, 2005. -Amended 1996 Ky. Acts ch. 366, sec. 9, effective July 15, 1996. -- Created 1984
Ky. Acts ch. 382, sec. 13, effective July 13, 1984.
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