KRS 142.406: Tourism, meeting, and convention marketing fund -- Creation and fund

sources -- Authorized investments -- Use of funds -- Annual report to

Legislative Research Commission and to Governor.

(1) There is hereby created and established in the State T reasury a trust and agency

account to be known as the tourism, meeting, and convention marketing fund. The

fund shall be administered by the Tourism, Arts and Heritage Cabinet, with the

approval of the Governor's Office for Policy and Management.

(2) All tax receipts from the tax imposed under KRS 142.400 shall be deposited into

the tourism, meeting, and convention marketing fund, and shall be appropriated for

the purposes set forth in subsection (3) of this section. The fund shall also contain

any other money contributed, allocated, or appropriated to it from any other source.

Money in the fund shall be invested by the Finance and Administration Cabinet in

instruments authorized under KRS 42.500. Investment proceeds shall be deposited

to the credit of the f und. Money in the fund shall not lapse but shall be carried

forward to the next fiscal year or biennium.

(3) The tourism, meeting, and convention marketing fund shall be used for the sole

purpose of marketing and promoting tourism in the Commonwealth inclu ding

expenditures to market and promote events and venues related to meetings,

conventions, trade shows, cultural activities, historical sites, recreation,

entertainment, natural phenomena, areas of scenic beauty, craft marketing, and any

other economic ac tivity that brings tourists and visitors to the Commonwealth.

Marketing and promoting tourism shall not include expenditures on capital

construction projects.

(4) By September 1 of each year, the secretary of the Tourism, Arts and Heritage

Cabinet shall re port to the Governor and the Legislative Research Commission

concerning the receipts, expenditures, and carryforwards of the fund for the

preceding fiscal year.