KRS 154.12-224: Department for Financial Services.

(1) There is created in the Cabinet for Economic Development the Department for

Financial Services. The department shall be headed by a commissioner appointed

by the secretary pursuant to KRS 154.10 -050. The department shall coordinate

administration and monit oring of all financial assistance, tax credit, and related

programs available for business and industry and shall provide all budgeting,

accounting, personnel services, and information technology necessary for proper

administration of the cabinet and cabinet programs.

(2) The department shall include the following divisions, each of which shall be headed

by a director appointed by the secretary pursuant to KRS 12.050:

(a) The Finance and Personnel Division, which shall provide financial, personnel,

facility, and contract administration services;

(b) The Compliance Division, which shall monitor incentives and collect and

maintain data on incentives after they are awarded;

(c) The Program Administration Division, which shall coordinate necessary

documentation and assist the Department for Business and Community

Development in preparing recommendations and finalizing documents for

presentation to the authority or other body for consideration and approval; and

(d) The IT and Resource Management Division, which sh all coordinate facility

services and internal information technology needs.

(3) The department shall include the Kentucky Economic Development Finance

Authority.

(4) The department shall include the Bluegrass State Skills Corporation established by

KRS 154.12-205.