KRS 164.790: Veterinary Contract Spaces Program -- Administration -- Administrative

regulations -- Purchase of annual enrollment spaces -- Tuition credits --

Veterinary Contract Spaces Program trust fund.

(1) For purposes of this section:

(a) "Authority" means the Kentucky Higher Education Assistance Authority;

(b) "Full enrollment space amount" means the difference between the out -of-state

and in -state tuition amount at a public participating veterinary school or an

equivalent amount determined by the aut hority for a nonpublic participating

veterinary school;

(c) "Kentucky student" means a Kentucky resident as determined by the authority

using the criteria established by the Council on Postsecondary Education for

the purposes of postsecondary admission and tuition assessment;

(d) "Participating veterinary school" means a college of veterinary medicine

approved by the authority for participation in the program; and

(e) "Program" means the Veterinary Contract Spaces Program.

(2) The General Assembly establish es the Veterinary Contract Spaces Program to

provide financial assistance and access to Kentucky students seeking a veterinary

education and to help ensure the availability of a sufficient veterinary workforce in

the Commonwealth.

(3) The authority shall a dminister the program and shall promulgate administrative

regulations in accordance with KRS Chapter 13A as may be needed for the

administration of the program.

(4) Subject to the availability of funds, the authority shall contract to purchase at least

one hundred sixty-four (164) enrollment spaces annually for Kentucky students at

one (1) or more participating veterinary schools. To the extent possible, the contract

shall be for the full enrollment space amount.

(5) Kentucky students enrolled in a particip ating veterinary school and selected by the

school for participation in the program shall receive a tuition credit from the school

in the amount required to purchase his or her enrollment space each semester, not to

exceed eight (8) semesters.

(6) To the extent possible, the authority shall secure enrollment spaces so that Kentucky

students participating in the program may continue applying tuition credits at the

same participating veterinary school for up to eight (8) semesters.

(7) (a) The Veterinary Contract Spaces Program trust fund is hereby created as a trust

fund in the State Treasury to be administered by the authority for the purpose

of purchasing enrollment spaces for Kentucky students in participating

veterinary schools as described in this section.

(b) The trust fund shall consist of state general fund appropriations, gifts and

grants from public and private sources, and federal funds. All moneys

included in the fund shall be appropriated for the purposes set forth in this

section.

(c) Any unalloted or unencumbered balances in the trust fund shall be invested as

provided in KRS 42.500(9). Income earned from the investments shall be

credited to the trust fund.

(d) Notwithstanding KRS 45.229, any fund balance at the close of the fiscal yea r

shall not lapse but shall be carried forward to the next fiscal year and

continuously appropriated only for the purposes specified in this section.