{"data":{"id":"us-ky/krs-164.7017","jurisdiction":"us-ky","citation":"KRS 164.7017","heading":"Aviation equipment partnership contracts.","body":"(1) The council shall reserve up to thirty -five percent (35%) of all net moneys in the\nfund for aviation equipment partnership contracts between public aviation programs\nand aviation industry partners to provide aviation and aviation equipment grants for\na pub lic high school vocational program or public postsecondary education\ninstitution to maintain, acquire, or lease aviation or aviation equipment.\n(2) An aviation equipment partnership shall require a written partnership contract\nbetween a public aviation pro gram, aviation industry partner, and the council. The\npartnership contract shall:\n(a) Prohibit any disbursement of moneys from the fund until the moneys\nappropriated by the General Assembly to be distributed are matched, at least\ndollar for dollar, with moneys deposited to the fund by the aviation partner;\n(b) Require a public aviation program to use all moneys of an aviation equipment\ngrant to maintain, acquire, or lease aviation or aviation equipment;\n(c) Prohibit the aviation industry partner from maintaining any ownership interest\nin aviation or aviation equipment maintained, acquired, or leased with the\nfunds from the aviation equipment grant;\n(d) Prohibit the aviation industry partner from receiving direct or indirect\ncompensation for the maintenance o r purchase of aviation or aviation\nequipment above the fair market value cost of the services or equipment; and\n(e) Meet all other requirements set forth in this section and administrative\nregulation, including but not limited to any reporting requirements  to the\ncouncil.\n(3) (a) The council shall collaborate with the advisory committee to solicit, accept,\nand review proposals for partnership contracts by aviation industry partners\nand public aviation programs located in Kentucky. The council shall select\nproposals for partnership contracts, and decisions of the council in these\nmatters shall be final. The council may prioritize partnership contracts:\n1. Targeted towards maintaining, acquiring, or leasing equipment used by\na public aviation program for a high-demand eligible aviation credential;\n2. Based upon the financial advantages afforded to a public aviation\nprogram; or\n3. Based upon the number of stu dents that would have access to the\naviation or aviation equipment maintained, acquired, or leased by a\npublic aviation program with funds from an aviation equipment grant.\n(b) Disbursements of moneys from the fund to support aviation equipment grants\nshall be made directly to a public aviation program pursuant to the terms of\nthe partnership contract.\n(4) The council shall require the public aviation program to submit proof that the entire\namount of the aviation equipment grant is invested in the maintenan ce, acquisition,\nor lease of aviation or aviation training equipment utilized by students enrolled in a\npublic aviation program. A public aviation program that fails to submit the proof\nrequired by the council shall return the entire amount of the grant to the fund.","path":["KRS Chapter 164"],"source_url":"https://apps.legislature.ky.gov/law/statutes/statute.aspx?id=54537","current_through":"Includes enactments through the 2026 Regular Session","vintage":"09/05/2026","retrieved_at":"2026-09-05T20:51:17Z","sha256":"79c7a3ff108650712bfc8c4394cb6f546b96948236f7949fa3de0bf386aeb28e","source_id":"us-ky","stale":false,"prev":"us-ky/krs-164.7015","next":"us-ky/krs-164.7019"},"notice":"GroundRules: Original legal text. Not legal advice."}