142.135 Monthly transmittal of funds to board -- Retention of collection and

194 words·~1 min read·/ky/142-135

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

administration fee -- Monthly report of receipts -- Restricted use of funds.

(1)The department shall transmit the amounts remitted to it by retailers as required by

KRS 142.105 to the board on a monthly basis. From each deposit, the department

may deduct an amount equal to the actual operating and overhead expenses incurred

in the collection and administration of the CMRS prepaid service charge, not to

exceed one percent (1%) of the amount collected. The department shall report its

actual expenses to the board on a quarterly basis.

(2)The department shall provide a monthly report of receipts from the CMRS prepaid

service charge to the board.

(3)Moneys held by the department prior to their transfer to the board shall not be

considered property of the Commonwealth and shall not be subject to appropriation

by the General Assembly. Such moneys shall not be:

(a)Loaned to the Commonwealth or to any instrumentality or agency thereof;

(b)Subject to transfer to the Commonwealth or any agency or instrumentality

thereof, except for purposes specifically authorized by this section; or

(c)Expended for any purpose other than a purpose authorized by KRS 65.7621 to

65.7643.