{"data":{"id":"us-ky/krs-224.1-030","jurisdiction":"us-ky","citation":"KRS 224.1-030","heading":"Brownfield redevelopment fund.","body":"(1) The brownfield redevelopment fund shall be established in the State Treasury as an\ninterest-bearing restricted fund and shall be administered by the cabinet.\n(2) The fund shall be a dedicated fund, and all moneys in the fund shall be used solely\nto provide  financial assistance to governmental agencies to perform brownfield\nassessments, corrective action, and demolition or other similar actions necessary to\nprepare the property for a beneficial use.\n(3) The financial assistance which may be provided to gover nmental agencies from the\nfund shall be limited to the following forms:\n(a) Grants; and\n(b) Loans that are made at or below market interest rates, including interest -free\nloans, at terms not to exceed ten (10) years with all payments of principal and\ninterest on all loans credited to the fund.\n(4) The cabinet may promulgate administrative regulations setting forth procedures for\nproviding financial assistance as set forth in subsection (3) of this section.\n(5) The brownfield redevelopment fund shall be esta blished, maintained, and credited\nwith funds received from appropriations of the General Assembly, repayments of\nloans and interest thereon, interest derived from fund principal, grants or donations\nreceived, and payments made to the fund for any lawful pu rpose. Notwithstanding\nKRS 45.229, any moneys remaining in the fund at the close of a fiscal year shall not\nlapse but shall be carried forward into the succeeding fiscal year to be used for the\npurposes set forth in this section.\n(6) The cabinet may enter into any necessary or required agreement with federal or state\nagencies or persons to carry out the provision of this section. All state agencies shall\ncooperate with the cabinet and share information with the cabinet as appropriate.\n(7) Any moneys in the fund are hereby appropriated for the purposes set forth in this\nsection.","path":[],"source_url":"https://apps.legislature.ky.gov/law/statutes/statute.aspx?id=41552","current_through":"Includes enactments through the 2026 Regular Session","vintage":"09/05/2026","retrieved_at":"2026-09-05T20:52:38Z","sha256":"c6199653a1119454593ef20c2c04395b1a9a061818504b482e71fc4128337836","source_id":"us-ky","stale":false,"prev":"us-ky/krs-224.1-020","next":"us-ky/krs-224.1-040"},"notice":"GroundRules: Original legal text. Not legal advice."}