Section 48.700 - General fund - Surplus fund accountThere is hereby created in the general 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 general fund as provided by KRS 48.140(3);(2) Except as provided in KRS 48.705, it shall contain all funds lapsed from general fund receipts not otherwise appropriated;(3) It shall contain all receipts from the sale of surplus property purchased with general fund tax receipts and not otherwise appropriated;(4) Except as provided in KRS 48.705, it shall contain all general fund tax revenues in excess of estimates;(5) It shall contain all moneys saved as a result of a reorganization of state government operations funded by the general 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 general fund; and(8) No expenditures shall be made from this account unless appropriated by the General Assembly or unless required by the budget reduction provisions of a branch budget bill, or as provided by KRS 48.130.Effective:6/25/2009
Amended 2009, Ky. Acts ch. 78, sec. 16, effective6/25/2009. -- Amended 1995, (3d Extra. Sess.) Ky. Acts ch. 2, sec. 5, effective 11/3/1995. --Amended 1990 Ky. Acts ch. 507, sec. 17, effective 7/13/1990. -- Created 1982 Ky. Acts ch. 450, sec. 28, effective 7/1/1983.