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154.20.415 Kentucky Alternative Fuel and Renewable Energy Fund Program -- Purpose.

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Page 1 of 1 154.20-415 Kentucky Alternative Fuel and Renewable Energy Fund Program -- Purpose. (1) There is created in the cabinet a Kentucky Alternative Fuel and Renewable Energy Fund Program to provide funding to Kentucky-based companies to undertake <br>research and development and commercialization work in the area of alternative <br>fuels and renewable energy. (2) The purpose of the Kentucky Alternative Fuel and Renewable Energy Fund Program is to: <br>(a) Accelerate knowledge transfer and technological innovation, improve economic competitiveness, and spur economic growth of Kentucky-based <br>companies involved in the areas of alternative fuels or renewable energy; (b) Support research and development activities that have clear potential to lead to commercially successful products, processes, or services in the areas of <br>alternative fuels or renewable energy within a reasonable period of time; (c) Stimulate growth-oriented alternative fuel and renewable energy enterprises within the Commonwealth; (d) Encourage partnerships and collaborative projects between private enterprises, Kentucky's universities, and research organizations in alternative fuels and <br>renewable energy; and (e) Promote research and development and commercialization activities in alternative fuels and renewable energy that are market-oriented. Effective: August 30, 2007 <br>History: Created 2007 (2d Extra. Sess.) Ky. Acts ch. 1, sec. 48, effective August 30, 2007.