KRS 260.869: Industrial hemp program fund.

(1) There is established in the State Treasury a trust and agency fund entitled the

industrial hemp program fund, to be administered by the commission for the

purpose of covering the costs of the commission and the industrial hemp

research program, as approved by the commission.

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

other funds both public and private, and shall receive all license application

fees and license renewal fees collected by the commission. Money deposited

in the fund is hereby appropriated for purposes set out in this section.

(3) Notwithstanding KRS 45.229, any unallocated or unencumbered balances in

the fund shall be invested as provided in KRS 42.500(9), and any interest or

other income earned from the investments, along with the unallotted or

unencumbered balances in the fund, shall not lapse but shall be carried

forward for purposes of the fund.

(4) The industrial hemp program fund shall be closed on July 1, 2017. All moneys

remaining in the fund shall be deposited in the industrial hemp research pilot

program fund created under KRS 260.866 and shall be used for the purposes

established under that section.