75-5343. Self-sufficiency trust fund; agreements with trusts, deposits; interest transfers; expenditures and administration; rules and regulations.

530 words·~2 min read·/ks/chapter-75/75-5343

A research copy — for the controlling text, always check the official state or federal source. Not legal advice.

(a)There is hereby established in the state treasury the self-sufficiency trust fund.

(b)On or before the 10 th of each month, the director of accounts and reports shall transfer from the state general fund to the self-sufficiency trust fund interest earnings based on:

(1)The average daily balance of moneys in the self-sufficiency trust fund for the preceding month; and

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

(c)The secretary for aging and disability services may accept moneys from a self-sufficiency trust for deposit in the self-sufficiency trust fund pursuant to an agreement with the trust naming one or more beneficiaries who are developmentally disabled individuals or individuals otherwise eligible for services from the Kansas department for aging and disability services residing in this state and specifying the care, support or treatment to be provided for such individuals. The secretary for aging and disability services shall maintain a separate account in the trust fund for each named beneficiary. The moneys in each such account shall be expended by the secretary, in accordance with rules and regulations of the secretary, only to provide care, support and treatment for the named beneficiaries in accordance with the terms of the agreement. Interest earned on moneys in the trust fund and transferred to the trust fund under subsection

(b)shall be prorated in accordance with procedures approved by the director of accounts and reports and credited monthly to each such account.

(d)If the secretary determines that the moneys in the account of a named beneficiary cannot be used for the care, support or treatment of that beneficiary in a manner consistent with the rules and regulations of the secretary and the agreement, or upon the request of the self-sufficiency trust, the remaining moneys in such account, together with any accumulated interest thereon, shall be promptly paid to the self-sufficiency trust which deposited such moneys in the trust fund.

(e)The secretary shall adopt rules and regulations and procedures as may be necessary or useful for the administration of the trust fund. All payments and disbursements from the trust fund shall be made upon warrants of the director of accounts and reports issued pursuant to vouchers approved by the secretary or by a person designated by the secretary. The receipt by a beneficiary of money from the trust fund, or of care, treatment or support provided with such money, shall not in any way reduce, impair or diminish the benefits to which such beneficiary is otherwise entitled by law.

(f)As used in this section:

(1)"Secretary" means the secretary for aging and disability services.

(2)"Self-sufficiency trust" means a trust created by a not-for-profit corporation which is a 501(c)(3) organization under the federal internal revenue code of 1986 and which was organized for the purpose of providing for the care, support or treatment of one or more developmentally disabled individuals or individuals otherwise eligible for services from the Kansas department for aging and disability services.

(3)"Trust fund" means the self-sufficiency trust fund established under this section.