{"data":{"id":"us-ky/krs-224a.322","jurisdiction":"us-ky","citation":"KRS 224A.322","heading":"Kentucky water and wastewater assistance for troubled or economically","body":"restrained systems fund.\n(1) The Kentucky water and wastewater assistance for troubled or economically\nrestrained systems fund is hereby established in the State Treasury and shall be\nadministered by the authority.\n(2) The fund shall be a dedicated revolving fund, and all moneys in the fund shall be\nallocated by the General Assembly for and dedicated to providing funding for both\ncapital and non-capital expenses for eligible pr ojects by public water or wastewater\nsystems, as evaluated and scored pursuant to KRS 224A.320.\n(3) Funding may be awarded pursuant to this section in the form of grants, loans, no -\ninterest loans, or forgivable loans as proposed by the board and determined  by the\nGeneral Assembly. Interest rates for loans awarded pursuant to this section shall be\nset using the same criteria to set the interest rates for loans from the federally -\nassisted water supply revolving fund administered by the authority under KRS\n224A.1115 and the federally -assisted wastewater revolving fund administered by\nthe authority under KRS 224A.111, except that interest rates for loans awarded\npursuant to this section shall be set at least one -half of one percent (0.5%) lower\nthan they would h ave been if awarded from the federally -assisted water supply and\nwastewater revolving funds, provided that a loan interest rate for a loan awarded\npursuant to this section shall not be less than zero percent (0%).\n(4) (a) The fund may receive donations, gi fts, state appropriations, repayments from\nthe funding provided under subsection (2) of this section, and revenues or\nproceeds from the sale of bonds or from other financial instruments.\n(b) The fund may receive proceeds from the authority's infrastructur e revolving\nfund under KRS 224A.304, as available, if:\n1. Not contrary to the requirements which establish and govern the\nmanagement and use of those funds; and\n2. The proceeds do not contain any federal moneys.\n(c) Any interest earnings of the fund shall become a part of the fund and shall not\nlapse.\n(5) Notwithstanding KRS 45.229, moneys in the fund shall not lapse but shall be\ncarried forward to the next fiscal year and used solely for the stated purposes in this\nsection and KRS 224A.320.\n(6) The authority may use up to one -half of one percent (0.5%) of moneys deposited\ninto the fund established by this section for administrative costs resulting from the\ndischarge of its duties under KRS 224A.320 to 224A.325.","path":["KRS Chapter 224A"],"source_url":"https://apps.legislature.ky.gov/law/statutes/statute.aspx?id=54593","current_through":"Includes enactments through the 2026 Regular Session","vintage":"09/05/2026","retrieved_at":"2026-09-05T20:52:43Z","sha256":"3985fa2b68e6d012c5aa98b92de1c5d231b40905d6f1011cb1b0520a95691eb4","source_id":"us-ky","stale":false,"prev":"us-ky/krs-224a.320","next":"us-ky/krs-224a.325"},"notice":"GroundRules: Original legal text. Not legal advice."}