{"data":{"id":"us-ky/krs-154.33-552","jurisdiction":"us-ky","citation":"KRS 154.33-552","heading":"Uses of Kentucky Appalachian regional development fund --","body":"Applications for funding -- Criteria for approval -- Administrative regulations.\n(1) The Kentucky Appalachian regional development fund shall be used only to support\njob creation and retention, en trepreneurship, tourism, broadband deployment,\neducation and lifelong learning, workforce training, leadership development, public\nengagement, health and wellness, arts and heritage, infrastructure, economic\ndiversity, and sustainable agricultural practice s and food systems within and across\ncounties in the region.\n(2) The following entities may apply for loans, grants, or investments from the fund:\n(a) Nonprofit corporations that have or are actively seeking 501(c)(3) status, are\nregistered to do business in the Commonwealth, are established to conduct\nbusiness in accordance with the purposes of the Shaping Our Appalachian\nRegion initiative, and that have a physical presence within the region;\n(b) Working groups or other formally designated entities represe nting Shaping\nOur Appalachian Region, Inc. as documented by resolution of the board or the\nboard itself; and\n(c) Departments, divisions, or offices of a county or city within the region.\n(3) Applications shall be submitted to the executive director who sha ll confirm\ncompleteness and shall then submit applications to the board for consideration.\n(4) The board shall consider whether and to what extent the applications are consistent\nwith the purposes specified in subsection (1) of this section. It shall then forward\nthe applications to the commissioner with recommendations for approval or\ndisapproval, giving priority to initiatives that present the greatest likelihood of\nregionwide economic impact.\n(5) The criteria to be used by the board in recommending appli cations to the\ncommissioner shall include:\n(a) The unemployment level in each community where the project will be located;\n(b) The likelihood that the project will generate future revenue for the community\nor the Commonwealth;\n(c) The number of new direct or indirect jobs to be provided for the residents of\nthe Commonwealth and the wages to be paid;\n(d) The degree to which the project will benefit the economies and communities\nin multiple jurisdictions within the region;\n(e) Funding match from the local com munity and private sector persons or\nfoundations; and\n(f) The likelihood of the economic success of the project, including the ability of\nthe project to sustain itself in the future.\n(6) The commissioner shall have authority to approve the application and shall, in\nconsultation with the secretary of the Cabinet for Economic Development,\ndetermine reasonable terms and conditions for the loan, grant, or investment.\n(7) Money in the Kentucky Appalachian regional development fund may be disbursed\nby the applicant to any person or entity, public or private, organized for profit or not\nfor profit, or any combination thereof with a geographical presence in the region as\nset forth in the applicatio n and approved by the commissioner, but the applicant\nshall be responsible for appropriate monitoring and reporting of the use of funds by\nthe recipient.\n(8) The Department for Local Government may promulgate administrative regulations\nin accordance with K RS Chapter 13A to implement the provisions of this section\nand KRS 154.33-554 and 154.33-556.","path":[],"source_url":"https://apps.legislature.ky.gov/law/statutes/statute.aspx?id=44443","current_through":"Includes enactments through the 2026 Regular Session","vintage":"09/05/2026","retrieved_at":"2026-09-05T20:50:56Z","sha256":"4a97e29bb683cab02cf87a57dd2aa6f16da3a16512e40bafde859c7602627a4c","source_id":"us-ky","stale":false,"prev":"us-ky/krs-154.33-550","next":"us-ky/krs-154.33-554"},"notice":"GroundRules: Original legal text. Not legal advice."}