{"data":{"id":"us-ky/krs-158.6485","jurisdiction":"us-ky","citation":"KRS 158.6485","heading":"Governor's School for Entrepreneurs Program  -- Entrepreneurship","body":"education organization -- Advisory board -- Appropriations -- Accounting\npractices and program reports -- Restricted use of funds.\n(1) The  Governor's School for Entrepreneurs Program  is established as a\nstatewide summer  experiential education program for creative and enterprising\nstudents to enhance the next generation of business and economic leaders\nand  enrich future economic development across the Commonwealth.  The\nGovernor's School for Entrepreneurs Program shall be attached to the Office of\nthe Secretary in the Education and Labor Cabinet for administrative purposes.\n(2) As  used in this section, \"entrepreneurship education organization\" means  a\nnot-for-profit organization that has:\n(a) Received  tax-exempt status from the United States Internal Revenue\nService;\n(b) Registered with the Office of the Kentucky Secretary of State;\n(c) A  statewide mission  to  generate  interest and  knowledge  in\nentrepreneurship; and\n(d) A history of operating education programs focused on entrepreneurship.\n(3) (a) The Governor or the Governor's designee from the executive cabinet, the\ncommissioner  of  education, the  president of  the  Council  on\nPostsecondary Education, and the secretary of the Education and Labor\nCabinet shall serve as ex officio members  of an advisory board to the\nGovernor's School for Entrepreneurs Program. In addition, the Governor\nshall appoint five (5) members  to the advisory board as provided in\nparagraph (b) of this subsection.\n(b) By July 31, 2016, the Governor shall appoint five (5) initial members  of\nthe advisory board to serve as follows:\n1. One  (1) shall be appointed to serve a three (3) year term;\n2. Two  (2) shall be appointed to serve a (2) year term; and\n3. Two  (2) shall be appointed to serve a (1) year term.\nMembers  appointed by the Governor may be reappointed by the Governor to\nserve successive terms. In making gubernatorial appointments, the Governor\nshall  consider recommendations  and  information on  business  and\nentrepreneurial experience provided by a nominating committee of the board\nand shall attempt to promote geographic balance on the board. The Governor\nshall make  appointments to fill gubernatorial vacancies as they occur. Each\nappointment after the initial appointment shall be for a three (3) year term\nunless the appointment is to fill the unexpired portion of a term.\n(4) The  Education and Labor Cabinet shall contract with an entrepreneurship\neducation organization to administer and operate the statewide Governor's\nSchool for Entrepreneurs Program created in this section. The Education and\nLabor Cabinet shall approve the contract application criteria, the process for\nsubmission of a contract application, and the structure and type of evaluation\ncriteria used in the contract application review process.\n(5) The  annual  appropriation for the  statewide Governor's School  for\nEntrepreneurs Program  from the general fund shall be transmitted to an\nentrepreneurship education organization on July 1 of each year to facilitate the\noperation of the summer program. Funds shall be used only for the purposes of\nthe  statewide Governor's  School  for  Entrepreneurs Program  and,\nnotwithstanding KRS 45.229, shall not lapse at the end of the fiscal year.\n(6) (a) The  entrepreneurship education organization shall follow standard\naccounting practices and shall submit the following financial reports to the\nOffice of the Secretary of the Education and Labor Cabinet, the Finance\nand Administration Cabinet, and the Legislative Research Commission:\n1. Quarterly reports of expenditures of state funds for the Governor's\nSchool  for Entrepreneurs Program, submitted on or before the\nthirtieth day after the end of each quarter in the organization's fiscal\nyear;\n2. Annual  reports of receipts and expenditures for the Governor's\nSchool  for Entrepreneurs Program, submitted on or before the\nsixtieth day after the end of the fiscal year of the organization; and\n3. The report of an annual financial compilation or review conducted by\nan independent accounting firm, submitted on or before September\n1 of each year.\n(b) On  or before March 1 of each year, the entrepreneurship education\norganization shall file a report detailing the operations of the Governor's\nSchool for Entrepreneurs Program for the preceding year with the Office\nof the Secretary of the Education and Labor Cabinet, the Finance and\nAdministration Cabinet, and the Legislative Research Commission. The\nreport shall include information concerning the program, student and\nfaculty demographics, and  program  outcomes  according to such\nmeasures  of success as the advisory board to the statewide Governor's\nSchool  for  Entrepreneurs Program,  in  collaboration with  the\nentrepreneurship education organization, may develop.\n(c) Nothing in this section shall prevent the entrepreneurship education\norganization from soliciting program support, cooperation, and funds from\nprivate businesses, foundations, industries, and government agencies\nwith an interest in technological innovations, economic development, and\nentrepreneurial education. Funds may  be solicited, accepted, received,\nand  expended  from public and  private sources for the purpose of\nimplementing this section.\n(7) The entrepreneurship education organization may perform other programs and\ninitiatives pertaining to its mission so long as all funds appropriated for the\nstatewide Governor's School for Entrepreneurs Program are restricted solely\nfor the design, development, and operation of the statewide Governor's School\nfor Entrepreneurs Program.","path":["KRS Chapter 158"],"source_url":"https://apps.legislature.ky.gov/law/statutes/statute.aspx?id=52380","current_through":"Includes enactments through the 2026 Regular Session","vintage":"09/05/2026","retrieved_at":"2026-09-05T20:51:06Z","sha256":"16089b0d7f892192f3ad63cb6c74b976a73bf21ef0d2a70ff04540bb3cf3bd05","source_id":"us-ky","stale":false,"prev":"us-ky/krs-158.648","next":"us-ky/krs-158.649"},"notice":"GroundRules: Original legal text. Not legal advice."}