56.080 Appraisal and valuation of state property. Before July 1 of each year, the cabinet shall reconsider its appraisal and valuation of public buildings and personal property belonging to or under the control and use of the state or any state agency, and shall certify any changes in value to the agency that has the custody or control of the property. The appraisal and valuation shall equal the amount that the cabinet deems necessary to replace the property at the time of the appraisal, which may be less actual depreciation. Effective: July 15, 2010 Histo ry: Amended 2010 Ky. Acts ch. 24, sec. 41, effective July 15, 2010. -- Amended 1998 Ky. Acts ch. 483, sec. 33, effective July 15, 1998. -- Recodified 1942 Ky. Acts ch. 208, sec. 1, effective October 1, 1942, from Ky. Stat. secs. 4636 -22, 4636 -23.
Kentucky Legal Code