- (1) There is hereby established in the State Treasury a trust and agency account to be known as the GRANT Program fund. The fund shall consist of moneys received from state appropriations, gifts, grants, and federal funds.
- (2) The fund shall be administered and maintained by the cabinet.
(3)
- (a) Amounts deposited in the fund shall be used for awarding: 1. Matching funds to successful applicants of the GRANT Program upon notification of award of the federal grant requiring matching funds. Except as provided in paragraph (b) of this subsection, up to twenty percent (20%) of the amounts deposited in the fund shall be used for match awards for nonprofit charitable organizations organized under 26 U.S.C. sec. 501(c)(3); and 2. Matching funds to successful applicants of the GRANT Program upon notification of award of the federal grant requiring matching funds. Except as provided in paragraph (b) of this subsection, up to eighty percent (80%) of the amounts deposited in the fund shall be used for match awards to county or city governing bodies.
- (b) The cabinet may transfer up to ten percent (10%) of funds remaining in one
- (1) of the categories listed in paragraph (a)1. or 2. of this subsection to the other category in that paragraph if: 1. 2. The upper limit established is reached within a category; There are eligible projects to be funded from the category that has reached the limit; and Funds remain available in the other category. 3. If a transfer is made, the cabinet shall provide notice in writing to the Interim Joint Committee on Appropriations and Revenue if the transfer is made during an interim between legislative sessions, or the Senate Standing Committee on Appropriations and Revenue and the House Standing Committee on Appropriations and Revenue if the transfer is made during a legislative session.
- (4) Notwithstanding KRS 45.229, moneys in the account not expended at the close of a fiscal year shall not lapse but shall be carried forward into the next fiscal year.
- (5) Any interest earnings of the fund shall become a part of the fund and shall not lapse.
- (6) Any match funds awarded under subsection (3) of this section shall be canceled upon denial of the federal award.
Effective: March 24, 2025
History: Amended 2025 Ky. Acts ch. 71, sec. 5, effective March 24, 2025. -- Created 2024 Ky. Acts ch. 188, sec. 6, effective April 12, 2024.