Kentucky Statutes 183.525 – Kentucky aviation economic development fund — Sources and distribution of fund moneys — Use of fund moneys
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(1) The “Kentucky Aviation Economic Development Fund” is established in the State Treasury. Beginning on July 1, 2000, all receipts collected under KRS Chapter 139 from the sales or use tax on aviation jet fuel shall be deposited in this fund.
(2) The fund may also receive state appropriations, gifts, grants, and federal funds and shall include earnings from investments of moneys from the fund.
(3) Any fund balance at the close of the fiscal year shall not lapse but shall be carried forward to the next fiscal year.
(4) The Transportation Cabinet shall use all moneys deposited in the fund or accruing to the fund for the development, rehabilitation, and maintenance of publicly owned or operated aviation facilities and for other aviation programs within the Commonwealth that will benefit publicly owned or operated aviation facilities.
(5) The cabinet shall be prohibited from expending moneys deposited in the fund for administrative costs incurred by the cabinet or for any purpose other than the development, rehabilitation, and maintenance of publicly owned or operated aviation facilities and other aviation programs benefiting publicly owned or operated aviation facilities.
Effective: July 15, 1998
History: Created 1998 Ky. Acts ch. 400, sec. 1, effective July 15, 1998.
2022-2024 Budget Reference. See Transportation Cabinet Budget, 2022 Ky. Acts ch.
214, Pt. I, A, 2, (1) at 2017.
2022-2024 Budget Reference. See Transportation Cabinet Budget, 2022 Ky. Acts ch.
214, Pt. III, 1 at 2023.
2022-2024 Budget Reference. See Transportation Cabinet Budget, 2022 Ky. Acts ch.
214, Pt. III, 2 at 2023.
(2) The fund may also receive state appropriations, gifts, grants, and federal funds and shall include earnings from investments of moneys from the fund.
Terms Used In Kentucky Statutes 183.525
- 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.
- 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) Any fund balance at the close of the fiscal year shall not lapse but shall be carried forward to the next fiscal year.
(4) The Transportation Cabinet shall use all moneys deposited in the fund or accruing to the fund for the development, rehabilitation, and maintenance of publicly owned or operated aviation facilities and for other aviation programs within the Commonwealth that will benefit publicly owned or operated aviation facilities.
(5) The cabinet shall be prohibited from expending moneys deposited in the fund for administrative costs incurred by the cabinet or for any purpose other than the development, rehabilitation, and maintenance of publicly owned or operated aviation facilities and other aviation programs benefiting publicly owned or operated aviation facilities.
Effective: July 15, 1998
History: Created 1998 Ky. Acts ch. 400, sec. 1, effective July 15, 1998.
2022-2024 Budget Reference. See Transportation Cabinet Budget, 2022 Ky. Acts ch.
214, Pt. I, A, 2, (1) at 2017.
2022-2024 Budget Reference. See Transportation Cabinet Budget, 2022 Ky. Acts ch.
214, Pt. III, 1 at 2023.
2022-2024 Budget Reference. See Transportation Cabinet Budget, 2022 Ky. Acts ch.
214, Pt. III, 2 at 2023.