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KRS 48.710

Road fund -- Surplus fund account

Applied in 1 court decision — leading case Fletcher v. Commonwealth (2005)

Most recently applied in Fletcher v. Commonwealth (May 2005)

Effective: June 25, 2009 History: Amended 2009 Ky

There is hereby created in the road fund of the State Treasury a surplus fund account subject to the following terms and conditions:

(1) It shall contain all surplus tax receipts accruing to the road fund as provided by KRS 48.140(3);

(2) It shall contain all funds lapsed from moneys originating from road fund receipts;

(3) It shall contain all receipts from the sale of surplus property purchased with road fund receipts;

(4) It shall contain all road fund receipts in excess of estimates;

(5) It shall contain all moneys saved as a result of a reorganization of state government operations funded by the road fund;

(6) Funds in the account shall be invested at interest and the interest shall also accrue to this account;

(7) It shall contain any other funds which are required by law or regulation to accrue to the surplus account of the road fund; and (8) No expenditures shall be made from this account unless appropriated by the General Assembly or unless required by budget reduction provisions of a branch budget bill, or as provided by KRS 48.130.

Official source: Kentucky General Assembly. Reproduced from public-domain Kentucky statutes; confirm against the official source for the current text. Not legal advice.