164.6035 Kentucky commercialization fund.
There is established and created in the State Treasury a fund entitled the "Kentucky <br>Commercialization Fund" to provide seed funding for the development and <br>commercialization of promising technologies at and emerging from colleges and <br>universities in the Commonwealth. The fund may receive state appropriations, gifts, <br>grants, federal funds, revolving funds, and any other funds both public and private. <br>Moneys deposited in the fund shall be disbursed by the State Treasurer upon the warrant <br>of the secretary of the Finance and Administration Cabinet. Any unallocated or <br>unencumbered balances in the fund shall be invested as provided in KRS 42.500(9), and <br>any income earned from the investments along with the unallotted or unencumbered <br>balances in the fund shall not lapse, and shall be deemed a trust and agency account and <br>made available solely for the purposes and benefits of the Kentucky Commercialization <br>Fund Program.
Effective: July 15, 2008 <br>History: Amended 2008 Ky. Acts ch. 98, sec. 5, effective July 15, 2008. -- Created
2000 Ky. Acts ch. 522, sec. 13, effective July 14, 2000.
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