KRS 154.20-415: Kentucky Alternative Fuel and Renewable Energy Fund Program --

Purpose.

(1) There is created in the cabinet a Kentucky Alternative Fuel and Renewable Energy

Fund Program to provide funding to Kentucky -based companies to undertake

research and dev elopment and commercialization work in the area of alternative

fuels and renewable energy.

(2) The purpose of the program is to:

(a) Accelerate knowledge transfer and technological innovation, improve

economic competitiveness, and spur economic growth of K entucky-based

companies involved in the areas of alternative fuels or renewable energy;

(b) Support research and development activities that have clear potential to lead

to commercially successful products, processes, or services in the areas of

alternative fuels or renewable energy within a reasonable period of time;

(c) Stimulate growth-oriented alternative fuels and renewable energy enterprises

within the Commonwealth;

(d) Encourage partnerships and collaborative projects between private enterprises,

Kentucky's public and private colleges and universities, and research

organizations in alternative fuels and renewable energy; and

(e) Promote research and development and commercialization activities in

alternative fuels and renewable energy that are market-oriented.