{"data":{"id":"us-ky/krs-45.770","jurisdiction":"us-ky","citation":"KRS 45.770","heading":"Contingency account.","body":"(1) There is created within the capital construction fund the capital construction and\nequipment purchase contingency account. The account shall consist of moneys\nappropriated to the account by the General Assembly.\n(2) Money in the capital construction and eq uipment purchase contingency account\nmay be transferred to the allotment account of a capital construction project,\nauthorized by the General Assembly under KRS 45.760, subject to the following\nconditions and procedures:\n(a) Except as provided in paragraph s (b) and (c) of this subsection, during any\nbiennium, the amount that may be transferred from the capital construction\nand equipment purchase contingency account to the allotment account of an\nauthorized project shall not exceed an amount equal to five pe rcent (5%) of\nthe estimated cost of the project, for that biennium, approved by the General\nAssembly in the manner provided by KRS 45.760;\n(b) Subject to paragraph (c) of this subsection, if the cost of an authorized project\nexceeds, by more than five perc ent (5%), its estimated cost, as approved by\nthe General Assembly, due to an unforeseen decision by a federal or state\ncourt or regulatory agency, moneys in excess of five percent (5%) of the\nestimated cost of the project may be transferred from the capita l construction\nand equipment purchase contingency account to the allotment account of the\nproject; and\n(c) The Finance and Administration Cabinet shall, prior to making any transfer\nunder this subsection, present the proposed transfer to the Capital Projects and\nBond Oversight Committee, at least fourteen (14) days prior to the committee\nmeeting, for review as provided by KRS 45.800. Presentation of a proposed\ntransfer under paragraph (b) of this subsection shall include written\ncertification to the committ ee from the commissioner of the Department for\nFacilities and Support Services, Finance and Administration Cabinet, that the\ntransfer is necessitated by cost increases resulting from an unforeseen decision\nby a federal or state court or regulatory agency.\n(3) Money in the capital construction and equipment purchase contingency account\nmay be transferred to the allotment account of a major item of equipment,\nauthorized by the General Assembly under KRS 45.760, for expenditure on that\nitem subject to the following conditions and procedures:\n(a) Except as provided in paragraphs (b) and (c) of this subsection, during any\nbiennium, the amount that may be transferred from the capital construction\nand equipment purchase contingency account to the allotment account of an\nauthorized major item of equipment shall not exceed an amount equal to five\npercent (5%) of the estimated cost of the item, for that biennium, approved by\nthe General Assembly in the manner provided by KRS 45.760;\n(b) If the cost of an authorized maj or item of equipment exceeds, by more than\nfive percent (5%), its estimated cost, as approved by the General Assembly,\ndue to an unforeseen decision by a federal or state court or regulatory agency,\nmoneys in excess of five percent (5%) of the estimated co st may be\ntransferred from the capital construction and equipment purchase contingency\naccount to the allotment account of the item; and\n(c) The Finance and Administration Cabinet shall, prior to making any transfer\nunder this subsection, present the proposed transfer to the Capital Projects and\nBond Oversight Committee, at least fourteen (14) days prior to the committee\nmeeting, for review as provided by KRS 45.800. Presentation of a proposed\ntransfer under paragraph (b) of this subsection shall include wr itten\ncertification to the committee from the secretary of the Finance and\nAdministration Cabinet that the transfer is necessitated by cost increases\nresulting from an unforeseen decision by a federal or state court or regulatory\nagency.\n(4) Money in the c apital construction and equipment purchase contingency account\nmay be transferred to a capital project account to be used for nonrecurring moving\nexpenses of state agencies to address issues of public health and safety or\ngovernmental efficiency, subject to the following conditions and procedures:\n(a) The Finance and Administration Cabinet shall, prior to making any transfer\nunder this subsection, present the proposed transfer to the Capital Projects and\nBond Oversight Committee, at least fourteen (14) days prior to the committee\nmeeting, for review as provided by KRS 45.800;\n(b) Presentation of a proposed transfer shall include written certification to the\ncommittee from the secretary of the Finance and Administration Cabinet that\nthe moving costs are nonrecurring, and describing the specific benefits,\nincluding but not limited to fiscal and efficiency savings associated with the\nproposal; and\n(c) No transfer shall be used for capital improvements.\n(5) No later than thirty (30) days after a project has been accepted by the\nCommonwealth of Kentucky and th e contracts encumbered against that project\nhave been closed, moneys constituting the available balance in the project or\nequipment account shall be transferred as follows:\n(a) If the project was a line item in the budget and not funded with road funds,\nthen the balance shall be transferred to the capital construction surplus\naccount;\n(b) If the project was a line item in the budget and funded with road funds, then\nthe balance shall be transferred to the road fund surplus account;\n(c) If the project was com pleted within the biennium in which it was authorized,\nand if the project was funded from a major maintenance pool, then the balance\nshall be transferred to that major maintenance pool; or\n(d) If the project was not completed within the biennium in which i t was\nauthorized, without being expressly reauthorized by a succeeding session of\nthe General Assembly, then the balance shall be transferred to the capital\nconstruction surplus account.","path":["KRS Chapter 45"],"source_url":"https://apps.legislature.ky.gov/law/statutes/statute.aspx?id=56932","current_through":"Includes enactments through the 2026 Regular Session","vintage":"09/05/2026","retrieved_at":"2026-09-05T20:49:06Z","sha256":"c9b7123276da314b4aeee4a909632c75aab1c6e66f57288e07fc2e545e706c2d","source_id":"us-ky","stale":false,"prev":"us-ky/krs-45.765","next":"us-ky/krs-45.775"},"notice":"GroundRules: Original legal text. Not legal advice."}