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45.770 Contingency account.
(1)
(2)
(3)
There is created within the capital construction fund the capital construction
and equipment purchase contingency account. The account shall consist of
moneys appropriated to the account by the General Assembly.
Money in the capital construction and equipment purchase contingency
account may be transferred to the allotment account of a capital construction
project, authorized by the General Assembly under KRS 45.760, subject to the
following conditions and procedures:
(a) Except as provided in paragraphs (b) and (c) of this subsection, during
any biennium, the amount that may be transferred from the capital
construction and equipment purchase contingency account to the
allotment account of an authorized project shall not exceed an amount
equal to fifteen percent (15%) of the estimated cost of the project, for that
biennium, approved by the General Assembly in the manner provided by
KRS 45.760.
(b) Subject to paragraph (c) of this subsection, if the cost of an authorized
project exceeds, by more than fifteen percent (15%), its estimated cost,
as approved by the General Assembly, due to an unforeseen decision by
a federal or state court or regulatory agency, moneys in excess of fifteen
percent (15%) of the estimated cost of the project may be transferred
from the capital construction and equipment purchase contingency
account to the allotment account of the project.
(c) The Finance and Administration Cabinet shall, prior to making any
transfer under this subsection, present the proposed transfer to the
Capital Projects and Bond Oversight Committee, at least fourteen (14)
days prior to the committee meeting, for review as provided by KRS
45.800. Presentation of a proposed transfer under paragraph (b) of this
subsection shall include written certification to the committee from the
commissioner of the Department for Facilities and Support Services,
Finance and Administration Cabinet, that the transfer is necessitated by
cost increases resulting from an unforeseen decision by a federal or state
court or regulatory agency.
Money in the capital construction and equipment purchase contingency
account may be transferred to the allotment account of a major item of
equipment, authorized by the General Assembly under KRS 45.760, for
expenditure on that item subject to the following conditions and procedures:
(a) Except as provided in paragraphs (b) and (c) of this subsection, during
any biennium, the amount that may be transferred from the capital
construction and equipment purchase contingency account to the
allotment account of an authorized major item of equipment shall not
exceed an amount equal to fifteen percent (15%) of the estimated cost of
the item, for that biennium, approved by the General Assembly in the
manner provided by KRS 45.760.
(b) If the cost of an authorized major item of equipment exceeds, by more
than fifteen percent (15%), its estimated cost, as approved by the General
Assembly, due to an unforeseen decision by a federal or state court or
regulatory agency, moneys in excess of fifteen percent (15%) of the
(4)
(5)
estimated cost may be transferred from the capital construction and
equipment purchase contingency account to the allotment account of the
item.
(c) The Finance and Administration Cabinet shall, prior to making any
transfer under this subsection, present the proposed transfer to the
Capital Projects and Bond Oversight Committee, at least fourteen (14)
days prior to the committee meeting, for review as provided by KRS
45.800. Presentation of a proposed transfer under paragraph (b) of this
subsection shall include written certification to the committee from the
secretary of the Finance and Administration Cabinet that the transfer is
necessitated by cost increases resulting from an unforeseen decision by a
federal or state court or regulatory agency.
Money in the capital construction and equipment purchase contingency
account may be transferred to a capital project account to be used for
nonrecurring moving expenses of state agencies to address issues of public
health and safety or governmental efficiency, subject to the following conditions
and procedures:
(a) The Finance and Administration Cabinet shall, prior to making any
transfer under this subsection, present the proposed transfer to the
Capital Projects and Bond Oversight Committee, at least fourteen (14)
days prior to the committee meeting, for review as provided by KRS
45.800.
(b) Presentation of a proposed transfer shall include written certification to
the committee from the secretary of the Finance and Administration
Cabinet that the moving costs are nonrecurring, and describing the
specific benefits, including but not limited to fiscal and efficiency savings
associated with the proposal.
(c) No transfer shall be used for capital improvements.
No later than thirty (30) days after a project has been accepted by the
Commonwealth of Kentucky and the contracts encumbered against that project
have been closed, moneys constituting the available balance in the project or
equipment account shall be transferred as follows:
(a) If the project was a line item in the budget and not funded with road
funds, then the balance shall be transferred to the capital construction
surplus account.
(b) If the project was a line item in the budget and funded with road funds,
then the balance shall be transferred to the road fund surplus account.
(c) If the project was completed within the biennium in which it was
authorized, and if the project was funded from a major maintenance pool,
then the balance shall be transferred to that major maintenance pool.
(d) If the project was not completed within the biennium in which it was
authorized, without being expressly reauthorized by a succeeding session
of the General Assembly, then the balance shall be transferred to the
capital construction surplus account.
Effective:June 20, 2005
History: Amended 2005 Ky. Acts ch. 67, sec. 1, effective June 20, 2005. --
Amended 1992 Ky. Acts ch. 47, sec. 4, effective July 14, 1992. -- Amended
1984 Ky. Acts ch. 410, sec. 3, effective July 13, 1984. -- Amended 1982 Ky.
Acts ch. 300, sec. 8, effective July 1, 1982; and ch. 393, sec. 31, effective July
15, 1982. -- Created 1979 (1st Extra. Sess.) Ky. Acts ch. 4, sec. 3, effective
January 1, 1980.
Legislative Research Commission Note (6/20/2005). 2005 Ky. Acts chs. 11, 85,
95, 97, 98, 99, 123, and 181 instruct the Reviser of Statutes to correct statutory
references to agencies and officers whose names have been changed in 2005
legislation confirming the reorganization of the executive branch. Such a
correction has been made in this section.
2012-2014 Budget Reference. See State/Executive Branch Budget, 2012 Ky. Acts
ch. 144, Pt. I, K, 1, (4) at 1134.
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