(1) A waste tire trust fund is established in the state treasury. The fund shall be used by the cabinet for the following purposes:
- (a) Properly managing waste tires;
- (b) Paying the costs associated with any waste tire amnesty program established by the cabinet that permits waste tires to be turned in without incurring fees, charges, or penalties;
- (c) Paying the Department of Revenue's costs of assessing and collecting the fee established by KRS 224.50-868;
- (d) Entering into the agreements described in KRS 224.50-876; and
- (e) Awarding the grants described in KRS 224.50-878. The cabinet shall utilize no more than twenty-five percent (25%) of the funds for the administrative costs related to implementing the waste tire program. All remaining funds shall be utilized, in accordance with KRS 224.50-850 to 224.50- 880, for waste tire amnesty programs, crumb rubber grants, tire-derived fuel programs, and other projects that will manage waste tires as appropriate to protect human health, safety, and the environment, or to develop markets for waste tires.
- (2) All interest earned on money in the fund shall be credited to the fund.
- (3) Money unexpended at the end of a fiscal year shall not lapse to the general fund.
- (4) Any money remaining in the waste tire trust fund established by KRS 224.50-820 shall be transferred to the fund established by this section.
Effective: June 8, 2011
History: Amended 2011 Ky. Acts ch. 34, sec. 5, effective June 8, 2011. -- Amended 2005 Ky. Acts ch. 85, sec. 631, effective June 20, 2005. -- Amended 2002 Ky. Acts ch. 46, sec. 3, effective July 15, 2002. -- Created 1998 Ky. Acts ch. 529, sec. 16, effective July 15, 1998. 2020-2022 Budget Reference. See State/Executive Branch Budget, 2020 Ky. Acts ch. 92, Pt. V, C, 2 at 940.