{"data":{"id":"us-ky/krs-42.450","jurisdiction":"us-ky","citation":"KRS 42.450","heading":"Local Government Economic Assistance Fund -- Sources.","body":"(1) There is hereby established in the State Treasury a fund entitled \"Local Government\nEconomic Assistance Fund.\" The fund may receive state appropriations, gifts,\ngrants, and federal funds and shall be disbursed by the State Treasurer upon the\nwarrant of the secretary of the Finance and Administration Cabinet. Any unallotted\nor unencumbered balances in the fund shall be invested pursuant to KRS 42.500\nand the income earned from the investment shall be prorated for expenditure in coal\nproducing and coal impact  counties according to each county's allocable part in the\nfund.\n(2) Effective July 1, 1981, an amount equal to one -half (1/2) of the tax collected\nannually on the sale of minerals, exclusive of coal, shall be transferred from the\ngeneral fund into this fu nd. The transfers shall be made quarterly, based upon the\nrevenue estimates prevailing at the time each quarterly transfer is due, except that\nthe last quarterly transfer shall be made after the close of the fiscal year accounting\nrecords, and shall be adj usted to provide the balance of the annual transfer required\nby this subsection.\n(3) Effective October 1, 2010, the quarterly transfer of funds required by subsection (2)\nof this section shall be made only after the quarterly installment of the annual\namount from the prior calendar year allowed as an incentive to an approved\ncompany under KRS 143A.025 and 154.27-060 has been made.","path":["KRS Chapter 42"],"source_url":"https://apps.legislature.ky.gov/law/statutes/statute.aspx?id=22032","current_through":"Includes enactments through the 2026 Regular Session","vintage":"09/05/2026","retrieved_at":"2026-09-05T20:49:02Z","sha256":"9ff50018c90b349cee4c92ed8eb0960cb123b296450af82d6916f32dd0acbf5c","source_id":"us-ky","stale":false,"prev":"us-ky/krs-42.435","next":"us-ky/krs-42.4501"},"notice":"GroundRules: Original legal text. Not legal advice."}