48.700 General fund -- Surplus fund account.
There is hereby created in the general fund of the State Treasury a surplus fund account
subject to the following terms and conditions:
(1) It shall contain all surplus tax receipts accruing to the general fund as provided by
KRS 48.140(3);
(2) Except as provided in KRS 48.705, it shall contain all funds lapsed from general
fund receipts not otherwise appropriated;
(3) It shall contain all receipts from the sale of surplus property purchased with general
fund tax receipts and not otherwise appropriated;
(4) Except as provided in KRS 48.705, it shall contain all general fund tax revenues in
excess of estimates;
(5) It shall contain all moneys saved as a result of a reorganization of state government
operations funded by the general fund;
(6) Funds in the account shall be invested at interest and the interest shall also accrue to
this account;
(7) It shall contain any other funds which are required by law or regulation to accrue to
the surplus account of the general fund; and
(8) No expenditures shall be made from this account unless appropriated by the General
Assembly or unless required by the budget reduction provisions of a branch budget
bill, or as provided by KRS 48.130.
Effective: June 25, 2009
History: Amended 2009 Ky. Acts ch. 78, sec. 16, effective June 25, 2009. -- Amended
1995 (3d Extra. Sess.) Ky. Acts ch. 2, sec. 5, effective November 3, 1995. -Amended 1990 Ky. Acts ch. 507, sec. 17, effective July 13, 1990. -- Created 1982
Ky. Acts ch. 450, sec. 28, effective July 1, 1983.
2010-2012 Budget Reference. See State/Executive Branch Budget, 2010 (1st Extra.
Sess.) Ky. Acts ch. 1, Pt. III, 24 at 138.
2010-2012 Budget Reference. See State/Executive Branch Budget, 2010 (1st Extra.
Sess.) Ky. Acts ch. 1, Pt. VII, (1) at 148.
Disclaimer: These codes may not be the most recent version. Kentucky may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the state site. Please check official sources.
