198A.744 Rural housing trust fund.
146 words·~1 min read·
/ky/chapter-198a/198a-744A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
(1)There is hereby established in the State Treasury a revolving account to be known
as the rural housing trust fund. The fund shall consist of moneys received from state
appropriations, gifts, grants, federal funds, and all repayment, interest, or other
return on the investment of trust fund dollars as required by KRS 198A.746(7)(b).
(2)The fund shall be administered by the corporation.
(3)Amounts deposited in the fund shall be used as provided in KRS 198A.740 to
198A.750. Separate accounts within the fund shall be made for state appropriations,
federal funds, and moneys received from other sources.
(4)Notwithstanding KRS 45.229, moneys in the fund not expended at the close of a
fiscal year shall not lapse but shall be carried forward into the next fiscal year.
(5)Any interest earnings of the fund shall become a part of the fund and shall not
lapse.