§ 154-14-060

154.14 -060 Government Resources Accelerating Needed Transformation Program of 2024 fund -- Unencumbered moneys in fund established in KRS 147A.158 to transfer into fund. (1) There is hereby established in the State Treasury a trust and agency account to be known as the Government Resources Accelerating Needed Transformation Program of 2024 fund. The fund shall consist of moneys received from state appropriations, gifts, grants, and federal funds. (2) The fund shall be administered and maintained by the ca binet. (3) Amounts deposited in the fund shall be used for awarding: (a) Matching funds to applicants of the Government Resources Accelerating Needed Transformation Program of 2024 upon notification of award of the federal grant requiring matching funds. U p to twenty percent (20%) of the amounts deposited in the fund shall be used for match awards for nonprofit charitable organizations organized under 26 U.S.C. sec. 501(c)(3); and (b) Matching funds to applicants of the Government Resources Accelerating Needed Transformation Program of 2024 upon notification of award of the federal grant requiring matching funds.

01(c)(3); and (b) Matching funds to applicants of the Government Resources Accelerating Needed Transformation Program of 2024 upon notification of award of the federal grant requiring matching funds. Up to eighty percent (80%) of the amounts deposited in the fund shall be used for match awards to county or city governing bodies. (4) Notwithstand ing KRS 45.229, moneys in the account not expended at the close of a fiscal year shall not lapse but shall be carried forward into the next fiscal year. (5) Any interest earnings of the fund shall become a part of the fund and shall not lapse. (6) Moneys d eposited in the fund are hereby appropriated for the purposes set forth in this section and shall not be appropriated or transferred by the General Assembly for any other purposes. (7) Any match funds awarded under subsection (3) of this section shall be c anceled upon denial of the federal award. (8) On or after June 30, 2024, any unencumbered moneys in the fund established in KRS 147A.158 shall be transferred to the Government Resources Accelerating Needed Transformation Program of 2024 fund administered b y the Cabinet for Economic Development created in this section.

in KRS 147A.158 shall be transferred to the Government Resources Accelerating Needed Transformation Program of 2024 fund administered b y the Cabinet for Economic Development created in this section. Effective: April 12, 2024 History: Created 2024 Ky. Acts ch. 188, sec. 6, effective April 12, 2024.