2006 Kentucky Revised Statutes - .6035   Kentucky commercialization fund.

164.6035 Kentucky commercialization fund. There is established and created in the State Treasury a fund entitled the "Kentucky Commercialization Fund" to provide development funds for promising technologies developed through the research and development work undertaken at the 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 14, 2000 History: Created 2000 Ky. Acts ch. 522, sec. 13, effective July 14, 2000. 2002-2004 Budget Reference. See State/Executive Branch Budget, 2003 Ky. Acts ch. 156, pt. I, sec. B, item 31(a), at 1740; and State/Executive Branch Budget Memorandum, 2003 Ky. Acts ch. 143, at 721 (Final Budget Memorandum, at 308). 2002-2004 Budget Reference. See State/Executive Branch Budget, 2003 Ky. Acts ch. 156, pt. V, item 2(B)(3), at 1853; and State/Executive Branch Budget Memorandum, 2003 Ky. Acts ch. 143, at 438 (Final Budget Memorandum, at 6). 2002-2004 Budget Reference. See State/Executive Branch Budget, 2003 Ky. Acts ch. 156, pt. IX, item 45(g), at 1880; and State/Executive Branch Budget Memorandum, 2003 Ky. Acts ch. 143, at 1103 (Final Budget Memorandum, at 732).