Kansas Statutes 74-50,297. Gifts and donations, fund established; transfer of certain moneys; expiration of fund
Terms Used In Kansas Statutes 74-50,297
- Appropriation: The provision of funds, through an annual appropriations act or a permanent law, for federal agencies to make payments out of the Treasury for specified purposes. The formal federal spending process consists of two sequential steps: authorization
- department: means the department of commerce;
(4) "entrepreneur" means an individual creating a new business, service or product;
(5) "region" means multi-county areas as defined by the secretary of commerce;
(6) "regional business development fund" means an authorized and audited fund that is created by taxpayer contributions, interest income and investment income and is managed by the regional foundation board of directors for the purposes of economic and leadership development in the region;
(7) "regional foundation" means any organization in Kansas that demonstrates capacity to provide economic development services to regions as defined by this act, and: (A) Has obtained a ruling from the internal revenue service of the United States department of treasury that such organization is exempt from income taxation under the provisions of section 501(c)(3) or 501(c)(6) of the federal internal revenue code;
(B) has been designated as a certified development company by the United States small business administration;
(C) has been designated as an economic development district by the United States department of commerce's economic development administration;
(D) has been organized as a regional planning commission under Kan. See Kansas Statutes 74-50,154
- Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity.
- Property: includes personal and real property. See Kansas Statutes 77-201
- Secretary: means the secretary of commerce. See Kansas Statutes 74-5059
- State: means the state of Kansas. See Kansas Statutes 74-5059
(a) The commission may accept, use and dispose of gifts and donations of money, property or personal services. The type and quantity of gifts shall be enumerated and submitted to the Kansas governmental ethics commission each quarter and shall be made available to the public on the commission’s website.
(b) There is hereby established in the state treasury the Kansas commission for the United States semiquincentennial gifts and donations fund. Such fund shall be administered by the secretary of commerce. All expenditures from the Kansas commission for the United States semiquincentennial gifts and donations fund shall be for promoting the Kansas commission for the United States semiquincentennial. All expenditures from the Kansas commission for the United States semiquincentennial gifts and donations fund shall be made in accordance with appropriation acts upon warrants of the director of accounts and reports issued pursuant to vouchers approved by the secretary or the secretary’s designee.
(c) On December 31, 2027, the director of accounts and reports shall transfer all moneys in the Kansas commission for the United States semiquincentennial gifts and donations fund to the operating expenditures account of the state economic development initiatives fund of the department of commerce. On December 31, 2027, all liabilities of the Kansas commission for the United States semiquincentennial gifts and donations fund shall be transferred to and imposed upon the operating expenditures account of the state economic development initiatives fund of the department of commerce. On December 31, 2027, the Kansas commission for the United States semiquincentennial gifts and donations fund shall be abolished.