42.470 Allocation of funds among counties -- Limitation of reduction of funds to
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/ky/42-470A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
counties and their incorporated areas. Moneys in the local government economic assistance fund shall be allocated among the counties as follows:
(1)Funds allocated under KRS 42.4585:
(a)Sixty percent (60%) shall be distributed to each coal producing county on the
basis of the ratio of coal severed in each respective county to the coal severed
statewide.
(b)Thirty percent (30%) shall be distributed to each coal producing county on the
basis of per capita income (inverse order), ton miles of resource roads and
population, equally weighted.
(c)Ten percent (10%) shall be distributed to non-coal producing counties
impacted by the transport of coal on the basis of geographic area, ton miles of
resource roads, and per capita income (inverse order), weighted on a basis of
30/100, 40/100, and 30/100, respectively. The expenditure of such funds shall
be limited to the categories of projects set out in KRS 42.455(2)(c). All
counties shall receive an annual payment based on the average of total ton
miles within the county during the most recent three
(3)year period. To
qualify for the funds distributed under the provisions of this paragraph, a
county must have within its geographic boundaries in any single year twenty-
five hundredths of one percent (0.25%) of the total ton miles within coal
impact counties during the most recent three
(3)year period.
(a)All funds allocated under KRS 42.450(2) shall be distributed among the
mineral producing counties on the basis of the tax collected on minerals
severed in each respective county.
(b)In no event shall the amount of funds distributed to a mineral producing
county, and to the incorporated areas within that county under KRS 42.475, in
any given quarter be reduced by greater than fifty percent (50%) as a result of
any refund of the tax imposed on the severance and processing of minerals. If
a refund of tax occurs and a county's allocated share of the refund amount is
greater than fifty percent (50%) of the quarterly distribution due that county
and its incorporated areas, the remainder shall carry forward to be offset in
successive quarters as necessary until it is satisfied in full.