{"data":{"id":"us-ky/krs-157.618","jurisdiction":"us-ky","citation":"KRS 157.618","heading":"Emergency and targeted investment fund -- Purposes -- Reimbursement","body":"requirement -- Administrative regulations -- Annual report.\n(1) The emergency and targeted investment fund is hereby created as a restricted fund\nin the State Treasury, to be adm inistered by the School Facilities Construction\nCommission.\n(2) (a) Notwithstanding KRS 45.229 or any other provision of the Kentucky Revised\nStatutes, any appropriations to the School Facilities Construction Commission\nthat have not been expended at the end of a fiscal year shall not lapse but shall\nbe transferred to the emergency and targeted investment fund. The fund may\nalso receive other appropriations from the General Assembly and\nreimbursements from local school districts.\n(b) Notwithstanding KRS 45. 229, amounts remaining in the emergency and\ntargeted investment fund at the end of a fiscal year shall not lapse but shall be\ncarried forward to the next fiscal year, to be used for the purposes set forth in\nthis section.\n(3) Notwithstanding KRS 157.620 an d 157.622, the commission may use moneys in\nthe fund to:\n(a) Offer grants for the purposes of financing the construction and equipping of\nnew facilities, or the major renovation of current facilities, if a local school\ndistrict's facilities are:\n1. Destroyed or severely damaged by an emergency. For the purposes of\nthis paragraph, \"emergency\" means a condition that arises from an\naccident, catastrophe, or other unforeseen occurrence such as a fire,\nstorm, flood, or other event that involves unusual danger to  the lives or\nproperty of area residents; or\n2. Destroyed or severely damaged through a criminal or negligent act; or\n(b) Award a cash grant to a school district to assist in bringing the school up to\ncode if:\n1. A school building is to be closed by a state or federal official or agency,\nincluding the state fire marshal or the Department for Environmental\nProtection; and\n2. The Kentucky Department of Education has declared the situation to be\nan emergency.\n(4) If a school district receives assistance from the commission under this section and\nsubsequently, as a result of litigation or insurance, receives funds for the original\nfacility, the school district shall reimburse the fund an amount equal to the amount\nreceived pursuant to this section. If the litigation or insurance receipts are less than\nthe amount received under this section, the district shall reimburse the fund an\namount equal to the amount received as a result of litigation or insurance, less the\ndistrict's costs and legal fees in securing the judgment or payment.\n(5) The commission, in cooperation with the department, shall promulgate\nadministrative regulations un der KRS Chapter 13A establishing the process to\napply for and receive funds from the emergency and targeted investment fund.\n(6) By October 1 of each year, the commission shall provide a report on the fund's\nactivities to the Legislative Research Commission.","path":["KRS Chapter 157"],"source_url":"https://apps.legislature.ky.gov/law/statutes/statute.aspx?id=44899","current_through":"Includes enactments through the 2026 Regular Session","vintage":"09/05/2026","retrieved_at":"2026-09-05T20:51:02Z","sha256":"660ac034e3b2a94077f0bbaed4fa2a631274d19e622c3bf7bfbc8666c5540540","source_id":"us-ky","stale":false,"prev":"us-ky/krs-157.617","next":"us-ky/krs-157.620"},"notice":"GroundRules: Original legal text. Not legal advice."}