There is a newer version of this Section
2022
2021
2020
2019 (you are here)
2018
Other previous versions
View our newest version here

2019 Kentucky Revised Statutes
Chapter 42 - Finance and administration cabinet
42.370 Amounts to be expended from fund.

Universal Citation: KY Rev Stat § 42.370 (2019)
Previous Next

Download as PDF
42.370 Amounts to be expended from fund. (1) (2) The maximum amount to be expended out of the area development fund for capital projects within each area development district shall be calculated on the basis of the following formula: (a) Sixty percent (60%) of the fund is allocated for expenditure within each district in the ratio that the population of the component counties bears to the total population of the state. (b) Twenty percent (20%) of the fund is allocated for expenditure in each district in inverse proportion to the total manufacturing employment conducted in each such district. (c) Twenty percent (20%) of the fund is allocated for expenditure in each district in inverse proportion to the relative per capita income prevailing in each such district. Any balance remaining in the fund at the close of any fiscal year shall not lapse, but shall continue into and be available for expenditure during the next succeeding fiscal year. Effective: June 17, 1978 History: Created 1978 Ky. Acts ch. 187, sec. 5, effective June 17, 1978. 2018-2020 Budget Reference. See State/Executive Branch Budget, 2018 Ky. Acts ch. 169, Pt. I, A, 13, (1) at 1295.
Previous Next
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.
This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.