KRS 164.7019: Annual report.

(1) By December 1 of each year, the council shall collaborate with the advisory

committee to submit a written report to the Legislative Research Commission for

referral to the Interim Joint Committee on Education, the Interim Joint Committee

on Transportation, and the Interim Joint Committee on Appropriations and Revenue

Budget Review Subcommittee on Education. The report shall include:

(a) A detailed summary of the council's costs throughout the year;

(b) Legislative recommendations to help grow and strengthen the education and

training pipeline of aviation professions within Kentucky;

(c) A detailed overview of the Kentucky aerospace, aviation, and defense

investment fund, including an accounting of all moneys raised and expended;

(d) A detailed analysis of aviation training scholarships awarded pursuant to KRS

164.7015, including but not limited to:

1. The criteria used to award the scholarships;

2. The number of scholarships awarded and the amount of each

scholarship;

3. An overview of the demographic informa tion of scholarship recipients,

including the county of residence;

4. The names of the aviation programs with scholarship recipients and the

type of eligible aviation credential corresponding to each program; and

5. To the extent available, student and program outcomes, including but

not limited to:

a. Graduation rates of th e aviation program overall and of

scholarship recipients as compared to an established baseline

within any such program;

b. Employment and employment retention rates of the aviation

program overall and scholarship recipients; and

c. The workforce participa tion of program graduates practicing in

Kentucky under an eligible aviation credential in relation to the

workforce demand and capacity for that specific eligible aviation

credential; and

(e) A detailed analysis of aviation equipment partnership contracts awarded

pursuant to KRS 164.7017, including but not limited to the following for each

aviation equipment partnership contract:

1. The amount of the aviation equipment grant;

2. The public aviation program that is a party to the partnership contract

and the eligible aviation credential corresponding to that program;

3. The aviation industry partner or partners that are a party to the

partnership contract and the amount contributed by each aviation

industry partner to the fund;

4. A detailed summary of the av iation or aviation equipment maintained,

acquired, or leased by the public aviation program with moneys from the

aviation equipment grant;

5. Financial documentation of all transactions utilizing moneys from the

aviation equipment grant; and

6. A detailed summary of how the aviation equipment grant will impact the

opportunities and outcomes for students enrolled in public aviation

program.

(2) If the report required by subsection (1) of this section is not filed by December 14

of each year, or a later date jointly approved by the Interim Joint Committee on

Education and the Interim Joint Committee on Transportation, any appropriations to

the fund shall be forfeited and any remaining moneys in the fund appropriated by

the General Assembly shall lapse to the g eneral fund. The council shall return any

remaining private moneys to its grantor, prorated as necessary.