KRS 353.437: Carbon dioxide sequestration facility administrative fund.

(1) There is hereby created in the State Treasury an interest -bearing, restricted, agency

account to be known as the carbon dioxide sequestration facility administrative

fund. All amounts required to be deposited into the fund shall not be segregated into

separate accounts but may be used by the cabinet as provided in this section for any

carbon dioxide sequestration project. Notwithstanding KRS 45.229, any balance

remaining in the fun d at the end of any fiscal year shall not lapse but shall be

carried forward for the purposes of the fund until expended. Expenditures from the

fund shall be made by the cabinet for the purposes of:

(a) Payment of all expenses of the cabinet in processing Class VI permits and

certificate applications;

(b) Regulating sequestration facilities during their construction, operation, and

pre-closure phases; and

(c) Certifying the sequestration amount determinations under KRS 353.445.

(2) The secretary may:

(a) Enter into a cooperative agreement with another government agency to carry

out regulatory responsibilities over a sequestration facility on behalf of the

Commonwealth; and

(b) Compensate the government agency for its expenses with money from the

fund.