{"data":{"id":"us-ky/krs-157.620","jurisdiction":"us-ky","citation":"KRS 157.620","heading":"School district participation requirements.","body":"(1) To participate in the school construction funding program, the district must have\nunmet needs as defined by KRS 157.615 and must meet the following eligibility\ncriteria:\n(a) Commit at least an equivalent tax rate of five cents ($0.05) to debt service,\nnew facilities, or major renovations of existing school facilities as defined by\nKRS 157.440. A district that levies the five cents ($0.05) and has not accepted\nan official offer of assistance from the School Facilities Construction\nCommission, made pursuant t o KRS 157.611, may use receipts from the levy\nfor other purposes as determined by the district board of education.\n(b) On July 1 of odd-numbered years, the district board of education shall restrict\nall available local revenue, as defined by KRS 157.615, f or school building\nconstruction, to be utilized in accordance with the priorities determined by the\nmost current school facilities plan approved by the Kentucky Board of\nEducation.\n(2) Interest earned on restricted funds required by this section shall beco me a part of\nthe restricted funds.\n(3) Funds restricted by the requirements of this section may be used by the district for\nprojects or a portion thereof as listed in priority order on the approved school\nfacilities plan prior to receiving state funds. Any  local school district which is not\nan eligible district may be permitted, upon written application to the Department of\nEducation, to transfer funds restricted by KRS 157.611 to 157.640 for other school\npurposes.\n(4) Not later than October 15 of the year immediately preceding an even -numbered\nyear regular session of the General Assembly, the Kentucky Board of Education\nshall submit a statement to the School Facilities Construction Commission\ncertifying the following in each district:\n(a) The amount of school facility construction needs in each district;\n(b) The amount of available local revenue in each district; and\n(c) That the district has or has not met the eligibility criteria established by\nsubsection (1) of this section.\n(5) Construction needs shall b e those needs specified in the school facilities plan\napproved by the Kentucky Board of Education as of June 30 of the year preceding\nan even-numbered year regular session of the General Assembly.","path":["KRS Chapter 157"],"source_url":"https://apps.legislature.ky.gov/law/statutes/statute.aspx?id=3351","current_through":"Includes enactments through the 2026 Regular Session","vintage":"09/05/2026","retrieved_at":"2026-09-05T20:51:02Z","sha256":"19cca536637de6a788b64e17e0fab3ff84d7fab3cf8bfacfc40dc9ec58e1de0c","source_id":"us-ky","stale":false,"prev":"us-ky/krs-157.618","next":"us-ky/krs-157.621"},"notice":"GroundRules: Original legal text. Not legal advice."}