The Transportation Cabinet shall certify to the commissioner of the Department of Revenue by October 1 of each fiscal year the amount required for lease rental payments to the Kentucky Turnpike Authority for economic development road projects. Upon receiving such certification, the commissioner of the Department of Revenue shall cause said amount to be deposited from road fund receipts to the credit of the economic development road account, hereby created, in the transportation fund (road fund). Such taxes collected in excess of the amount required to be deposited to the economic development road account in the transportation fund (road fund) shall be deposited by the Department of Revenue to the credit of the transportation fund (road fund).
Effective: June 20, 2005

Terms Used In Kentucky Statutes 175.810

  • authority: shall mean the Turnpike Authority of Kentucky. See Kentucky Statutes 175.410
  • 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.

History: Amended 2005 Ky. Acts ch. 85, sec. 603, effective June 20, 2005. — Created
1980 Ky. Acts ch. 393, sec. 7, effective July 15, 1980.

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