{"data":{"id":"us-ky/krs-248.703","jurisdiction":"us-ky","citation":"KRS 248.703","heading":"Allocation of moneys received in tobacco settlement agreement fund from","body":"Master Settlement Agreement.\n(1) Fifty percent (50%) of the moneys received in the tobacco settlement agreement\nfund from Master Settlement Agreement funding after June 30, 2 000, along with\naccrued interest, shall be allocated within twenty (20) days of receipt of the moneys\nto the agricultural development fund created in KRS 248.655. The moneys received\nin the fund, along with the accrued interest, shall be further allocated as follows:\n(a) Thirty-five percent (35%) to the counties account; and\n(b) Sixty-five percent (65%) for other projects throughout the state.\n(2) The allocation within the counties account in the agricultural development fund for\neach county shall be assure d for use in each county and shall be based on the\nfollowing weighted factors:\n(a) Fifty percent (50%) weight to the county's percentage of the state's tobacco\nallotment based on 1999 data;\n(b) Twenty-five percent (25%) weight to the county's number of far ms with\ntobacco quotas in the county as a percentage of farms with tobacco quotas\nstatewide, based on 1999 data; and\n(c) Twenty-five percent (25%) weight to the economic impact index for each\ncounty which shall be calculated in the following manner:\n1. The tobacco income for each county (1997 burley tobacco production\ntimes average burley market price) divided by the total personal income\nfor each county. The data used shall reflect the year most recently\navailable for total personal income.\n2. The percentage derived in subparagraph 1. of this paragraph (tobacco\nincome as a percentage of total personal income for each county) shall\nthen be summed across all counties.\n3. The economic impact index amount shall be each county's tobacco\nincome as a p ercentage of total personal income, divided by the\naggregate percentage stated in subparagraph 2. of this paragraph.\n(3) When a county's allocation is exhausted, applicants from that county may apply for\nfunds from the other sixty -five percent (65%) of the  moneys in the agricultural\ndevelopment fund. Failure by a county to exhaust its county allocation shall not\npreclude the county from receiving the benefits of a proposal approved by the board\nfrom state funds.\n(4) Any funds directly appropriated by the Ge neral Assembly shall be assessed against\nthe percentage of funds allocated to the state portion of the agricultural\ndevelopment fund.\n(5) Interest earned on any moneys in any fund or account created in KRS 248.701 to\n248.727 shall accrue to that fund or ac count until transferred to another fund or\naccount created or referenced in KRS 248.701 to 248.727.\n(6) None of the moneys left at the end of a fiscal year in any fund or account created or\nreferenced in KRS 248.701 to 248.727 shall lapse, but shall stay w ith the fund or\naccount as long as the fund or account exists, or until the moneys are transferred to\nanother fund or account created or referenced in KRS 248.701 to 248.727. In the\ncase of any fund or account created in KRS 248.701 to 248.727 that is term inated\nwith a remaining balance, the balance shall remain in the agricultural development\nfund.","path":["KRS Chapter 248"],"source_url":"https://apps.legislature.ky.gov/law/statutes/statute.aspx?id=11969","current_through":"Includes enactments through the 2026 Regular Session","vintage":"09/05/2026","retrieved_at":"2026-09-05T20:53:01Z","sha256":"49c0679325835ce02a0f4e4fc6a5c7f3c9472ee0b7281da8f31aa1c757f23571","source_id":"us-ky","stale":false,"prev":"us-ky/krs-248.701","next":"us-ky/krs-248.705"},"notice":"GroundRules: Original legal text. Not legal advice."}