{"data":{"id":"us-ky/krs-158.4461","jurisdiction":"us-ky","citation":"KRS 158.4461","heading":"The General Assembly  finds that private financial and philanthropic","body":"support  of public school districts by all members  of the community\nfosters student success, safety, and well-being -- The General Assembly\nencourages  the organization of foundations under KRS  Chapter 273 to\nsupport  public school  districts in any  district for which  no  such\nfoundation exists.\n(1) The  board of directors of any public school district foundation, or foundation\nformed  exclusively to benefit a particular public school, organized as a\nnonstock, nonprofit corporation under KRS  Chapter 273 and that is either in\nexistence on March 11, 2019, or incorporated after March 11, 2019, may\naccept gifts or donations that are restricted by the grantor to be used in\nfurtherance of lawful school safety, security, and student health purposes to the\nextent allowed by applicable federal tax laws. The board of directors shall use\ngifts or donations exclusively for the purpose for which they are granted.\n(2) The  General Assembly hereby finds and declares that private financial and\nphilanthropic support of public school districts by all members  of the community\nfosters greater student success, safety, and wellbeing. To advance these\ngoals, the General  Assembly  hereby  encourages  the organization of\nfoundations to support public school districts in any district for which no\nfoundation exists on March 11, 2019, under KRS  Chapter 273 relating to\nnonstock, nonprofit corporations.\n(3) Pursuant to KRS  160.580, a local board of education may directly accept gifts\nor donations that are restricted by the grantor to be used in furtherance of\nlawful school safety, security, and student health purposes to the extent\nallowed by applicable laws and shall use any accepted gift or donation for the\npurpose for which it was granted.","path":["KRS Chapter 158"],"source_url":"https://apps.legislature.ky.gov/law/statutes/statute.aspx?id=48497","current_through":"Includes enactments through the 2026 Regular Session","vintage":"09/05/2026","retrieved_at":"2026-09-05T20:51:05Z","sha256":"00e209e868dcc001e8439d59e313d0b27fc7c08bc7af2cb763421e5052abbc8f","source_id":"us-ky","stale":false,"prev":"us-ky/krs-158.446","next":"us-ky/krs-158.447"},"notice":"GroundRules: Original legal text. Not legal advice."}