164.6019 Kentucky enterprise fund.

182 words·~1 min read·/ky/chapter-164/164-6019

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

(1)There is established and created a trust and agency account entitled the "Kentucky

enterprise fund" for the purpose of enabling small or medium-size, Kentucky-based

companies to undertake feasibility, concept development, research and

development, or commercialization work.

(2)The Kentucky enterprise fund may receive moneys from any public or private

source, including but not limited to general fund appropriations of the

Commonwealth, grants, or contributions of money, property, labor, or other things

of value to be used to carry out the fund's operations, functions, and responsibilities,

and to otherwise make investments.

(3)The Kentucky enterprise fund shall also receive moneys transferred from the

Kentucky rural innovation fund under KRS 164.6027, the Kentucky

commercialization fund under KRS 164.6035, and the Kentucky alternative fuel

and renewable energy fund under KRS 154.20-410.

(4)Any unallocated or unencumbered balances in the fund shall be invested as

provided in KRS 42.500(9), and any income earned from the investments along

with the unallotted or unencumbered balances in the fund shall not lapse, and shall

be made available solely for the purposes and benefits of the Kentucky enterprise

fund.