Kentucky Statutes 41.400 – Child victims’ trust fund — Limitation on disbursement
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(1) The child victims’ trust fund is created as a separate fund in the office of the State
Treasurer. The fund shall be expended only as provided in this section.
(2) The State Treasurer shall credit to the trust fund all amounts received for this purpose and any amounts received under KRS § 141.440.
(3) The State Treasurer shall invest trust fund money in the same manner as surplus funds are invested. Earnings shall be credited to the trust fund.
(4) Until the total amount of assets in the trust fund exceeds twenty million dollars ($20,000,000), not more than one-half of the money contributed to the trust fund each year, plus the earnings credited to the trust fund during the previous fiscal year, and the money earned by the sale of child victims’ trust fund license plates pursuant to KRS Chapter 186, shall be available for disbursement upon the authorization of the state board as provided in KRS § 15.935. After such time that the State Treasurer certifies that the assets in the trust fund exceed twenty million dollars ($20,000,000), only the earnings credited to the trust fund shall be available for disbursement upon the authorization of the state board as provided in KRS § 15.935.
(5) Funds granted or funds received as gifts or donations to the child victims’ trust fund shall be available for disbursement upon appropriation by the General Assembly, and funds authorized for expenditure shall not be considered assets for purposes of subsection (4) of this section.
Effective: June 20, 2005
History: Amended 2005 Ky. Acts ch. 133, sec. 9, effective June 20, 2005. — Amended
1996 Ky. Acts ch. 366, sec. 9, effective July 15, 1996. — Created 1984 Ky. Acts ch.
382, sec. 13, effective July 13, 1984.
Treasurer. The fund shall be expended only as provided in this section.
Terms Used In Kentucky Statutes 41.400
- Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
- 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
(2) The State Treasurer shall credit to the trust fund all amounts received for this purpose and any amounts received under KRS § 141.440.
(3) The State Treasurer shall invest trust fund money in the same manner as surplus funds are invested. Earnings shall be credited to the trust fund.
(4) Until the total amount of assets in the trust fund exceeds twenty million dollars ($20,000,000), not more than one-half of the money contributed to the trust fund each year, plus the earnings credited to the trust fund during the previous fiscal year, and the money earned by the sale of child victims’ trust fund license plates pursuant to KRS Chapter 186, shall be available for disbursement upon the authorization of the state board as provided in KRS § 15.935. After such time that the State Treasurer certifies that the assets in the trust fund exceed twenty million dollars ($20,000,000), only the earnings credited to the trust fund shall be available for disbursement upon the authorization of the state board as provided in KRS § 15.935.
(5) Funds granted or funds received as gifts or donations to the child victims’ trust fund shall be available for disbursement upon appropriation by the General Assembly, and funds authorized for expenditure shall not be considered assets for purposes of subsection (4) of this section.
Effective: June 20, 2005
History: Amended 2005 Ky. Acts ch. 133, sec. 9, effective June 20, 2005. — Amended
1996 Ky. Acts ch. 366, sec. 9, effective July 15, 1996. — Created 1984 Ky. Acts ch.
382, sec. 13, effective July 13, 1984.