164.7911 Strategic Investment and Incentive Funding Program -- Trust funds --

238 words·~1 min read·/ky/164-7911

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Interest -- Appropriations.

(1)There is established and created in the Council on Postsecondary Education a

Strategic Investment and Incentive Funding Program for postsecondary education

to consist of a system of strategic financial assistance awards to institutions,

systems, agencies, and programs of postsecondary education to advance the goals

of postsecondary education as stated in KRS 164.003(2). There are established in

the State Treasury the following individual strategic investment and incentive trust

funds:

(a)A research challenge trust fund;

(b)A comprehensive university excellence trust fund;

(c)A technology initiative trust fund;

(d)A physical facilities trust fund;

(e)A postsecondary workforce development trust fund; and

(f)A student financial aid and advancement trust fund.

(2)The funding program and the individual trust funds are created to provide financial

assistance to the institutions, systems, agencies, and programs of postsecondary

education each fiscal biennium. It is the intent of the General Assembly to make

appropriations, including general fund appropriations, each fiscal biennium to each

of the individual trust funds in the funding program in a form and manner consistent

with the strategic agenda adopted by the Council on Postsecondary Education.

Appropriations made to individual trust funds in the Strategic Investment and

Incentive Funding Program shall not lapse at the end of a fiscal year but shall be

carried forward in the respective trust fund accounts and shall be available for

allotment for their respective purposes in the next fiscal year.