KRS 154.35-044: Allocation of fund moneys by council -- Limitations.

The council shall allocate moneys from the fund for the operation of the infrastructure

and the centers subject to the following limitations:

(1) The council may retain not more than eight percent (8%) of the deposits into the

fund in any budget year for the central administration of the infrastructure;

(2) After payment of expenses for central administration, not more than twenty -five

percent (25%) of the remainder of the fund in any budget year shall be allocated to

basic research centers and the balance shall be allocated to applied research centers;

(3) Not more than twenty percent (20%) of the total moneys allocated to applied

research centers in any budget year shall be allocated to any one (1) applied research

center; and

(4) All moneys allocated to t he contracting universities for the operation of the centers

shall be paid out in accordance with contracts entered into between the council and

the universities;

(5) Notwithstanding the provisions of subsections (1) to (3) of this section:

(a) The council may defer the establishment of all centers for up to four (4) years

after July 15, 1994 to allow the fund to grow to sufficient size to support

operation of the centers; and

(b) The allocation percentage set forth in subsection (3) of this section may be

modified by the council with approval of the cabinet for a period of up to four

(4) years after the first center is established.