42.370 Amounts to be expended from fund.
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/ky/chapter-42/42-370A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
(1)The maximum amount to be expended out of the area development fund for capital
projects within each area development district shall be calculated on the basis of the
following formula:
(a)Sixty percent (60%) of the fund is allocated for expenditure within each
district in the ratio that the population of the component counties bears to the
total population of the state.
(b)Twenty percent (20%) of the fund is allocated for expenditure in each district
in inverse proportion to the total manufacturing employment conducted in
each such district.
(c)Twenty percent (20%) of the fund is allocated for expenditure in each district
in inverse proportion to the relative per capita income prevailing in each such
district.
(2)Any balance remaining in the fund at the close of any fiscal year shall not lapse, but
shall continue into and be available for expenditure during the next succeeding
fiscal year.