(1) The Kentucky STEM Initiative fund is hereby created to support the STEM Initiative described in KRS § 164.0286 and 164.0287, as directed by the STEM Initiative Steering Committee established in KRS § 164.0286(4).
(2) The fund may receive state appropriations, grants, gifts, federal funds, or any other public or private funds.

Terms Used In Kentucky Statutes 164.0288

  • Committee: means the Strategic Committee on Postsecondary Education created in
    KRS §. See Kentucky Statutes 164.001
  • Council: means the Council on Postsecondary Education created in KRS §. See Kentucky Statutes 164.001
  • Federal: refers to the United States. See Kentucky Statutes 446.010
  • Fiscal year: The fiscal year is the accounting period for the government. For the federal government, this begins on October 1 and ends on September 30. The fiscal year is designated by the calendar year in which it ends; for example, fiscal year 2006 begins on October 1, 2005 and ends on September 30, 2006.
  • Public: means operated with state support. See Kentucky Statutes 164.001
  • State: when applied to a part of the United States, includes territories, outlying possessions, and the District of Columbia. See Kentucky Statutes 446.010
  • Year: means calendar year. See Kentucky Statutes 446.010

(3) Fund amounts not expended or obligated at the end of a fiscal year shall not lapse but shall be carried forward to the next fiscal year to be used solely to support the purposes for which the funds were appropriated. Any interest earnings of the fund shall become a part of the fund and shall not lapse.
(4) The Department of Education and the Council on Postsecondary Education may expend available funds from other sources on the STEM Initiative.
Effective: July 15, 2008
History: Created 2008 Ky. Acts ch. 134, sec. 11, effective July 15, 2008.

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