{"data":{"id":"us-ky/krs-42.409","jurisdiction":"us-ky","citation":"KRS 42.409","heading":"Definitions for KRS 42.410 and 45.760.","body":"As used in KRS 42.410 and 45.760, unless the context requires otherwise:\n(1) \"State total personal income\" means the measure of all income received by or on\nbehalf of persons in the Commonwealth, as most recently published in the Survey\nof Current Business  by the United States Department of Commerce, Bureau of\nEconomic Analysis.\n(2) \"Estimated state total personal income\" means the personal income figure used by\nthe Governor's Office for Economic Analysis to generate final detailed revenue\nestimates.\n(3) \"Total revenues\" means revenues credited to the general fund and the road fund\nconsistent with the provisions of KRS 48.120, as well as any restricted agency fund\naccount from which debt service is expended.\n(4) \"Anticipated total revenues\" means the official revenue estimates, as provided for in\nKRS 48.120, projected for the general fund and the road fund, as well as any\nrestricted agency fund account from which debt service is expended.\n(5) \"Available revenues\" means revenues credited to the general fund and the road fund\nconsistent with the provisions of KRS 48.120, as well as any restricted agency fund\naccount from which debt service is expended, minus any statutorily dedicated\nreceipts of the respective funds.\n(6) \"Anticipated available revenues\" means of ficial revenue estimates, as provided for\nin KRS 48.120, projected for the general fund and the road fund, as well as any\nrestricted agency fund account from which debt service is expended, minus any\nstatutorily dedicated receipts of the respective funds.\n(7) \"Total assessed value of property\" means state total net assessed value of property\nfor taxes due, as obtained from the Department of Revenue.\n(8) \"Per capita\" means per unit of population, where population figures are the most\nrecent available from the University of Louisville, Kentucky State Data Center.\n(9) \"Appropriation-supported debt service\" means the amount of an appropriation\nidentified to be expended for debt service purposes in the executive budget\nrecommendation, and the amount of an appropr iation expended for debt services in\na completed fiscal year.\n(10) \"Appropriation-supported debt\" means the outstanding principal of bonds issued by\nall state agencies and all individuals, agencies, authorities, boards, cabinets,\ncommissions, corporations, or other entities of, or representing the Commonwealth\nwith the authority to issue bonds, and for which debt service is appropriated by the\nGeneral Assembly.\n(11) \"Nonappropriation-supported debt\" means the outstanding principal of bonds issued\nby all sta te agencies and all individuals, agencies, authorities, boards, cabinets,\ncommissions, corporations, or other entities of, or representing the Commonwealth\nwith the authority to issue bonds, and for which debt service is not appropriated by\nthe General Assembly.\n(12) \"Statutorily dedicated receipts\" means revenues credited to the general fund and\nroad fund consistent with the provisions of KRS 48.120, as well as any restricted\nagency fund account, which are required by an enacted statute to be used for a\nspecific purpose. Statutorily dedicated receipts include, but are not limited to, the\nfollowing:\n(a) Receipts credited to the general fund which are subject to KRS 42.450 to\n42.495, KRS 278.130 to 278.150, or KRS 350.139;\n(b) Receipts credited to the road fund which are subject to KRS 175.505, KRS\n177.320, KRS 177.365 to 177.369, KRS 177.9771 to 177.979, KRS 186.531,\nor KRS 186.535; and\n(c) Receipts credited to a restricted agency fund account in accordance with any\napplicable statute.\n(13) \"True interest cost\" means the bond yield according to issue price without a\nreduction for related administrative costs, and is the same figure as the arbitrage\nyield calculation described in the United States Tax Reform Act of 1986.","path":["KRS Chapter 42"],"source_url":"https://apps.legislature.ky.gov/law/statutes/statute.aspx?id=22027","current_through":"Includes enactments through the 2026 Regular Session","vintage":"09/05/2026","retrieved_at":"2026-09-05T20:49:02Z","sha256":"3583b9ea8ef77d0ec1ec2c01020ee52c7a242e747239099a0bbcbd119ad42c5d","source_id":"us-ky","stale":false,"prev":"us-ky/krs-42.400","next":"us-ky/krs-42.410"},"notice":"GroundRules: Original legal text. Not legal advice."}