{"data":{"id":"us-ky/krs-154.20-420","jurisdiction":"us-ky","citation":"KRS 154.20-420","heading":"Science and technology organization -- Duties -- Funding application","body":"process -- Negotiation of agreements.\n(1) The science and technology organization shall have the authority to review\napplications, qualify companies, and certify qualified companies.\n(2) The science and technology organization shall develop application criteria and an\napplication process.\n(3) The science and technology organization shall focus on providing support to\nresearch and development projects that are likely to:\n(a) Produce a measurable result and be technically sound;\n(b) Lead to innovative technology or new knowledge;\n(c) Lead to commercially successful products, processes, or services within a\nreasonable period of time; or\n(d) Show significant potential for stimulating in novation-driven economic growth\nand a reasonable probability to enhance employment opportunities within the\nCommonwealth.\n(4) An eligible company may submit to the science and technology organization an\napplication for funding. The application shall includ e but not be limited to the\nfollowing information:\n(a) Verification that the applicant is an eligible company that is Kentucky-based;\n(b) A technical research and commercialization plan that is sufficient for outside\nexpert review;\n(c) A detailed financial analysis that includes the commitment of resources by the\napplicant and others;\n(d) Sufficient detail concerning proposed project partners, type and amount of\nwork to be performed by each partner, and expected product or service with\nestimated costs to be reflected in the negotiated contract or agreement;\n(e) A statement of the economic development potential of the project; and\n(f) Any other information the science and technology organization may require.\n(5) The science and technology organization shall conduct an independent review using\ninternal and external resources to evaluate each application. Following the\napplication review, the science and technology organization shall make a written\ndetermination of whether the applicant is a qualified company as defined in KRS\n154.20-400.\n(6) Before a qualified company is approved for funding, the qualified company shall\nnegotiate an agreement and funding contract that is satisfactory to the science and\ntechnology or ganization with any project partners to undertake the research and\ndevelopment work.\n(7) Upon a qualified company's presentation of a legal agreement or contract meeting\nthe conditions under subsection (6) of this section, the science and technology\norganization shall negotiate the terms for funding with the qualified company and\nshall enter into a contract with the qualified company if an agreement is reached.\n(8) Any agreement shall include a provision that a qualified company shall, at a\nminimum, match t he funding provided through the science and technology\norganization on a one -to-one dollar ratio for each year of the project. The science\nand technology organization shall have sole discretion to authorize an in -kind\ncontribution in lieu of part of the ma tch required for the qualified company, if the\nscience and technology organization determines that the financial limitations of the\nqualified company warrant this authorization.\n(9) The science and technology organization may negotiate with the qualified c ompany\nthe ownership and disposition of patents, royalties, all other intellectual property\nrights, and an equity or related position on behalf of the Kentucky alternative fuel\nand renewable energy fund for the sole purpose of reinvesting and sustaining a\nrevolving fund to carry out KRS 154.20-400 to 154.20-420.\n(10) The science and technology organization, upon approval by the cabinet, shall issue\nguidelines for statewide notification of the program's availability and a program\nschedule, including but not limited to an application review cycle including:\n(a) A deadline for submission of applications, which shall be at least biennially;\nand\n(b) A deadline for completing the review of applications, which shall not exceed\nfive (5) months after the application submission deadline.","path":[],"source_url":"https://apps.legislature.ky.gov/law/statutes/statute.aspx?id=2734","current_through":"Includes enactments through the 2026 Regular Session","vintage":"09/05/2026","retrieved_at":"2026-09-05T20:50:54Z","sha256":"c15773251bf4af917800a09f0ed14b3d3793342adb61cabbd2a074545dac51fb","source_id":"us-ky","stale":false,"prev":"us-ky/krs-154.20-415","next":"us-ky/krs-154.20-520"},"notice":"GroundRules: Original legal text. Not legal advice."}