32-1422. Kansas tourist attraction matching grant development fund; administration; authorized uses; interest earnings.

219 words·~1 min read·/ks/chapter-32/32-1422

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(a)There is hereby established the Kansas tourist attraction matching grant development fund in the state treasury. The Kansas tourist attraction matching grant development fund shall be administered by the secretary of commerce. All moneys in the Kansas tourist attraction matching grant development fund shall be used to provide matching grants to provide assistance in the promotion of tourism and the development of quality tourist attractions within this state in accordance with this act.

(b)All moneys received pursuant to K.S.A. 32-1403 , and amendments thereto, shall be remitted to the state treasurer in accordance with the provisions of K.S.A. 75-4215 , and amendments thereto. Upon receipt of each such remittance, the state treasurer shall deposit the entire amount in the state treasury to the credit of the Kansas tourist attraction matching grant development fund.

(c)On or before the 10th of each month, the director of accounts and reports shall transfer from the state general fund to the Kansas tourist attraction matching grant development fund interest earnings based on:

(1)The average daily balance of moneys in the Kansas tourist attraction matching grant development fund for the preceding month; and

(2)the net earnings rate for the pooled money investment portfolio for the preceding month.