KRS 164.7919: Comprehensive university excellence trust fund.

(1) (a) The comprehensive university excellence trust fund created by KRS 164.7911

shall consist of six (6) separate accounts: one (1) for Eastern Kentucky

University; one (1) for Kentucky State University; one (1) for Morehead State

University; one (1) for Murray State University; one (1) for Northern

Kentucky University; and one (1) for Western Kentucky University.

(b) Funds appropriated to the comprehensive university excellence trust fund or

any subsidiary fund created by the Council on Postsecondary Education shall

be apportioned to each of the comprehensive universities proportional to their

respective share of total general fund appropriations in each fiscal year,

excluding debt service appropriations and specialized, noninstructional

appropriations.

(c) The purpose of the comprehensive university excellence trust fund is to

provide financial assistance to encourage comprehensive universities to

develop at least one (1) nationally recognized program of distinction or at

least one (1) nationally recognized applied research program.

(2) The council shall develop the criteria and process for submission of an application

under this section. Each university may apply to the council for financial assistance

from the comprehensive university excellence trust fund. The council shall

determine the matching funds or internal reallocation requirements from the

applicants to qualify for funding. Financial assistance that may be awarded by the

council shall be consistent with the adopted strategic agenda, the biennial budget

process, and the availability of any resources to the comprehensive university

excellence trust fund.