{"data":{"id":"us-ky/krs-262.920","jurisdiction":"us-ky","citation":"KRS 262.920","heading":"Agricultural Enhancement Fund.","body":"(1) (a) There is hereby created by this section a special fund in the State Treasury\nwhich shall be known as the \"Agricultural Enhancement Fund.\" There shall be\ndeposited in the fund:\n1. Moneys received by the Commonwealth, from whatever source and by\nwhatever means, as gifts for purposes of retaining agricultural lands and\nsupporting and abetting agricultural practices and activities which shall\nimprove conservation and natural resource protection practices, enhance\nthe viability of the agriculture industry, and e xpand the economic\ncontribution that agriculture makes to the Commonwealth;\n2. Moneys received by the Commonwealth, from whatever source and by\nwhatever means, as grants or loans for purposes of retaining agricultural\nlands and supporting and abetting agri cultural practices and activities\nwhich shall improve conservation and natural resource protection\npractices, enhance the viability of the agriculture industry, and expand\nthe economic contribution that agriculture makes to the Commonwealth;\n3. Moneys rece ived by the Commonwealth including proceeds of bonds\nissued for the purpose of funding the PACE Program as dedicated\nsources of revenue for the fund; and\n4. Moneys appropriated to the fund.\n(b) The fund shall be in the custody of the Commonwealth. All or a ny part of\nthese funds may be invested in any securities in which public funds may\nlawfully be invested. All income derived from investments shall be paid into\nthe fund and become a part thereof. The moneys so invested shall at all times\nbe subject to with drawal from investment for use as provided in this\nsubsection.\n(c) Upon authorization of the PACE board, the moneys in the fund may be used\nfor:\n1. The acquisition of agricultural conservation easements on eligible lands\nwithin the Commonwealth;\n2. The acq uisition of options to purchase agricultural conservation\neasements on eligible lands within the Commonwealth;\n3. The costs of appraisal, engineering, surveying, planning, financial, legal,\nand other services, and applicable personnel costs lawfully incurr ed\nincident to the acquisition of agricultural conservation easements in\neligible lands and for monitoring and enforcing easements on restricted\nlands;\n4. The costs incident to the sale, issuance, and delivery of bonds, and to\nsecuring funds from other revenue sources for the fund;\n5. The provision of guarantees for loans that farmers participating in the\nPACE Program may need to seek from lending institutions in order to\ncarry out agricultural operations, including loans for annual agricultural\nproduction, agriculture- and conservation -related improvements, and\nchanges in the types of and methods employed for agricultural\nproduction on farmland tracts enrolled in the PACE Program; and\n6. Other expenditures as specified by the PACE board, providing that the\nexpenditures are consistent with KRS 262.900 to 262.920 and\nadministrative regulations promulgated by the PACE board and are for\nthe express purpose of retaining agricultural lands, supporting and\nabetting agricultural lands, and supporting and abetting agricultural\npractices and activities which shall improve conservation and natural\nresource protection practices, enhance the viability of the agriculture\nindustry, and expand the economic contributio n that agriculture makes\nto the Commonwealth.\n(d) No more than ten percent (10%) of the moneys in the fund shall be expended\nin any one (1) fiscal year to administer KRS 262.900 to 262.920.","path":["KRS Chapter 262"],"source_url":"https://apps.legislature.ky.gov/law/statutes/statute.aspx?id=12823","current_through":"Includes enactments through the 2026 Regular Session","vintage":"09/05/2026","retrieved_at":"2026-09-05T20:53:12Z","sha256":"5fe8a9777344f7647b2bca0ef23469011db290d0fec498985dc392de02a7b322","source_id":"us-ky","stale":false,"prev":"us-ky/krs-262.918","next":"us-ky/krs-262.990"},"notice":"GroundRules: Original legal text. Not legal advice."}