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136.648 Gross revenues and excise tax fund and state baseline and local growth fund -- Creation and administration of funds.

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Page 1 of 1 136.648 Gross revenues and excise tax fund and state baseline and local growth fund -- Creation and administration of funds. (1) There is established in the State Treasury a gross revenues and excise tax fund. The fund shall be held and administered by the Finance and Administration Cabinet. <br>The cabinet shall invest money in the fund in the same manner as money in the state <br>general fund. (2) There is established in the State Treasury a state baseline and local growth fund. The fund shall be held and administered by the Finance and Administration <br>Cabinet. The cabinet shall invest money in the fund in the same manner as money in <br>the state general fund. (3) All revenue from the tax imposed under KRS 136.604 and 136.616, including all penalties and interest attributable to the nonpayment of the tax or for <br>noncompliance with KRS 132.825 and 136.600 to 136.660 shall be deposited into <br>gross revenues and excise tax fund. Amounts deposited in the gross revenues and <br>excise tax fund shall be allocated among the state, political subdivisions, school <br>districts and special districts as provided in KRS 136.648, 136.650, 136.652, <br>136.654, and 136.656. (4) All money in the gross revenues and excise tax fund designated for distribution to political subdivisions under KRS 136.648, 136.650, 136.652, 136.654, and <br>136.656: <br>(a) Shall not be withheld or reduced by the General Assembly or any state agency for any reason, except for adjustments provided for within KRS 132.825 and <br>136.600 to 136.660; and (b) Shall be used solely and exclusively for the provision of services to the general public, including public protection, health services, education, <br>libraries, transportation services, and economic development. No amount shall <br>be used for purely local purposes affecting only the inhabitants of the <br>particular political subdivision, such as the administration of local <br>government. Neither the General Assembly nor any state agency shall <br>mandate how the funds are to be used. Effective: January 1, 2006 <br>History: Created 2005 Ky. Acts ch. 168, sec. 112, effective January 1, 2006.