(1) There is hereby established in the State Treasury a revolving account to be known as the rural housing trust fund. The fund shall consist of moneys received from state appropriations, gifts, grants, federal funds, and all repayment, interest, or other return on the investment of trust fund dollars as required by KRS § 198A.746(7)(b).
(2) The fund shall be administered by the corporation.

Terms Used In Kentucky Statutes 198A.744

  • 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) Amounts deposited in the fund shall be used as provided in KRS § 198A.740 to
198A.750. Separate accounts within the fund shall be made for state appropriations, federal funds, and moneys received from other sources.
(4) Notwithstanding KRS § 45.229, moneys in the fund not expended at the close of a fiscal year shall not lapse but shall be carried forward into the next fiscal year.
(5) Any interest earnings of the fund shall become a part of the fund and shall not lapse.
Effective: March 24, 2023
History: Created 2023 Ky. Acts ch. 92, sec. 31, effective March 24, 2023.

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