KRS 194A.055: Kentucky Health Care Improvement Fund -- Purpose -- Source of

moneys -- Strategic plan for fund distribution -- Annual report and audit.

There is established in the State Treasury a fund to be known as the "Kentucky Health

Care Improvement Fund." This fund shall exist for the purpose of receipt and expenditure

of moneys to improve health care and access to health insurance residents of the

Commonwealth. The fund may receive state appropriations, gifts, grants, and federal

funds and shall be disbu rsed by the State Treasury upon the warrant of the secretary of

the Cabinet for Health and Family Services. Beginning July 1, 2000, twenty -five percent

(25%) of the proceeds from the tobacco settlement agreement fund shall be deposited in

this fund as prov ided under KRS 248.654. All investment income earned from moneys

deposited in the fund shall accrue to the fund. The moneys in the fund shall not lapse at

the close of any fiscal year but shall be carried forward in the next fiscal year for the

purpose of the fund. The board shall develop and oversee the implementation of a

strategic plan. The strategic plan shall identify both short -term and long -term goals and

the appropriate oversights to measure progress toward achievement of those goals, and it

shall b e updated every two (2) years. The board shall submit an annual report to the

Governor and the Legislative Research Commission by September 1 of each year for the

preceding fiscal year, outlining its activities and expenditures. The Auditor of Public

Accounts, on an annual basis, shall conduct a thorough review of all expenditures from

the fund and, if necessary in the opinion of the Auditor, an audit of the operations of the

fund. No money in the fund shall be allocated until the board has adopted a strategic plan.