Download as PDF
157.618 Emergency and targeted investment fund -- Purposes -- Reimbursement
requirement -- Administrative regulations -- Annual report.
(1)
(2)
(3)
(4)
(5)
The emergency and targeted investment fund is hereby created as a restricted fund
in the State Treasury, to be administered by the School Facilities Construction
Commission.
(a) Notwithstanding KRS 45.229 or any other provision of the Kentucky Revised
Statutes, any appropriations to the School Facilities Construction Commission
that have not been expended at the end of a fiscal year shall not lapse but shall
be transferred to the emergency and targeted investment fund. The fund may
also receive other appropriations from the General Assembly and
reimbursements from local school districts.
(b) Notwithstanding KRS 45.229, amounts remaining in the emergency and
targeted investment fund at the end of a fiscal year shall not lapse but shall be
carried forward to the next fiscal year, to be used for the purposes set forth in
this section.
Notwithstanding KRS 157.620 and 157.622, the commission may use moneys in the
fund to:
(a) Offer grants for the purposes of financing the construction and equipping of
new facilities, or the major renovation of current facilities, if a local school
district's facilities are:
1.
Destroyed or severely damaged by an emergency. For the purposes of
this paragraph, "emergency" means a condition that arises from an
accident, catastrophe, or other unforeseen occurrence such as a fire,
storm, flood, or other event that involves unusual danger to the lives or
property of area residents; or
2.
Destroyed or severely damaged through a criminal or negligent act; or
(b) Award a cash grant to a school district to assist in bringing the school up to
code if:
1.
A school building is to be closed by a state or federal official or agency,
including the state fire marshal or the Department for Environmental
Protection; and
2.
The Kentucky Department of Education has declared the situation to be
an emergency.
If a school district receives assistance from the commission under this section and
subsequently, as a result of litigation or insurance, receives funds for the original
facility, the school district shall reimburse the fund an amount equal to the amount
received pursuant to this section. If the litigation or insurance receipts are less than
the amount received under this section, the district shall reimburse the fund an
amount equal to the amount received as a result of litigation or insurance, less the
district's costs and legal fees in securing the judgment or payment.
The commission, in cooperation with the department, shall promulgate
administrative regulations under KRS Chapter 13A establishing the process to apply
for and receive funds from the emergency and targeted investment fund.
(6)
By October 1 of each year, the commission shall provide a report on the fund's
activities to the Legislative Research Commission.
Effective: April 27, 2016
History: Amended 2016 Ky. Acts ch. 138, sec. 4, effective April 27, 2016. -- Created
2014 Ky. Acts ch. 102, sec. 32, effective July 15, 2014.
2016-2018 Budget Reference. See State/Executive Branch Budget, 2016 Ky. Acts ch.
149, Pt. I, A, 28, (2) at 1053.
2016-2018 Budget Reference. See State/Executive Branch Budget, 2016 Ky. Acts ch.
149, Pt. I, A, 28, (4) at 1053.
2016-2018 Budget Reference. See State/Executive Branch Budget, 2016 Ky. Acts ch.
149, Pt. I, A, 28, (5) at 1053.
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.
