{"data":{"id":"us-ky/krs-164.038","jurisdiction":"us-ky","citation":"KRS 164.038","heading":"Kentucky public university research consortiums -- Endowed research","body":"fund -- Administration by Council on Postsecondary Education -- Application\nprocess.\n(1) (a) There is hereby created an endowment fund as defined in KRS 273.600 called\nthe endowed research fund to be administered by the council for the purposes\nof funding the work of research consortiums selected by the council in\naccordance with subsection (2) of this section.\n(b) The endowed research fund shall contain moneys received from t he general\nfund, federal funds, and any other proceeds from contributions, gifts, or grants\nmade available for the purposes of the fund.\n(c) Moneys deposited in the endowed research fund are hereby appropriated for\nthe purposes under this section.\n(d) All moneys in the endowed research fund shall be endowed in accordance\nwith KRS 273.600 to 273.645.\n(e) Notwithstanding KRS 45.229, moneys in the endowed research fund at the\nclose of a fiscal year shall not lapse but shall be carried forward to the next\nfiscal year. Any interest earnings of the fund shall be transferred quarterly on\na pro rata basis to the five (5) consortium accounts created in paragraph (g) of\nthis subsection.\n(f) Notwithstanding KRS 42.500, moneys in the endowed research fund shall be\ninvested in accordance with endowment management best practices.\n(g) The endowed research fund shall contain five (5) consortium accounts. Each\nconsortium account shall be reserved for funding the research consortium\nassigned to the account by the council in ac cordance with subsection (2) of\nthis section. Each consortium account shall contain interest earnings from the\nendowed research fund transferred quarterly under paragraph (e) of this\nsubsection by the council, federal funds, and any other proceeds from\ncontributions, gifts, or grants made available for the purposes of the account.\n(2) The council shall solicit, accept, and review joint funding applications submitted by\ntwo (2) or more Kentucky public universities to receive funding from a consortium\naccount. Each joint funding application shall be reviewed using criteria established\nby the council in accordance with subsection (6) of this section. The council shall\nselect five (5) high -quality research consortiums to receive funding from a\nconsortium account . Each research consortium selected by the council shall be\nassigned to a unique consortium account within the fund for a term of five (5) years.\n(3) Moneys in the five (5) consortium accounts shall constitute seed money for the\nresearch consortium assigned to the account by the council to perform initial\nresearch and to prepare proposals to seek grant money from public and private\nsources in larger funding amounts.\n(4) Prior to the expiration of a research consortium's term of eligibility under\nsubsection (2) of this section to receive funding from a consortium account, the\ncouncil shall review the performance of the research consortium to determine\nwhether:\n(a) The term of eligibility of the research consortium should be renewed for up to\nfive (5) additional years; or\n(b) The research consortium's eligibility to receive funding from the endowed\nresearch fund should be terminated.\n(5) The council shall m aintain a research consortium assigned to each of the five (5)\naccounts within the endowed research fund. If a research consortium's eligibility to\nreceive funding from the endowed research fund is terminated, the council shall\nsolicit, accept, and review joint funding applications to fill the vacancy in\naccordance with subsection (2) of this section.\n(6) The council shall promulgate administrative regulations in accordance with this\nsubsection and KRS Chapter 13A to administer this section. The administrat ive\nregulations shall include metrics to evaluate joint funding applications submitted by\ntwo (2) or more Kentucky public universities in accordance with subsection (2) of\nthis section. The metrics shall include but not be limited to the research\nconsortium's:\n(a) Impact upon human quality of life advancements, prioritizing innovations that\nadvance medicine, health, or economic development; and\n(b) 1. Additional funding sources for seed money to perform initial research\nand to prepare proposals to seek gran t money from public and private\nsources in larger funding amounts; and\n2. Anticipated future funding sources and amounts.\n(7) The council may expend up to four percent (4%) of all interest earnings of the\nendowed research fund on the costs of managing and administering the endowed\nresearch fund.","path":["KRS Chapter 164"],"source_url":"https://apps.legislature.ky.gov/law/statutes/statute.aspx?id=54819","current_through":"Includes enactments through the 2026 Regular Session","vintage":"09/05/2026","retrieved_at":"2026-09-05T20:51:14Z","sha256":"228644afc6dddf6c24691da8f9bbd127be9e15e3eecc168c5446e8fe692b214b","source_id":"us-ky","stale":false,"prev":"us-ky/krs-164.037","next":"us-ky/krs-164.040"},"notice":"GroundRules: Original legal text. Not legal advice."}