KRS 183.525: Kentucky aviation economic development fund -- Sources and distribution

of fund moneys -- Use of fund moneys -- Report.

(1) The Kentucky aviation economic development fund is established in the State

Treasury. Beginning on July 1, 2000, all r eceipts collected under KRS Chapter 139

from the sales or use tax on aviation jet fuel shall be deposited in this fund.

(2) The fund may also receive state appropriations, gifts, grants, and federal funds and

shall include earnings from investments of moneys from the fund.

(3) Any fund balance at the close of the fiscal year shall not lapse but shall be carried

forward to the next fiscal year.

(4) The cabinet shall use all moneys deposited in the fund or accruing to the fund for

the development, rehabilitat ion, and maintenance of publicly owned or operated

aviation facilities and for other aviation programs within the Commonwealth that

will benefit publicly owned or operated aviation facilities.

(5) The cabinet shall be prohibited from expending moneys depos ited in the fund for

administrative costs incurred by the cabinet or for any purpose other than the

development, rehabilitation, and maintenance of publicly owned or operated

aviation facilities and other aviation programs benefiting publicly owned or

operated aviation facilities.

(6) The cabinet shall, no later than October 1 of each year, submit a report on the use of

funds in the Kentucky aviation economic development fund for the previous fiscal

year to the General Assembly through the Legislative Research Commission.