164.7890 Coal county scholarship program for pharmacy students.
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<![CDATA[ Page 1 of 3 164.7890 Coal county scholarship program for pharmacy students. (1) To ensure the public health purpose of access to pharmaceutical services in the coal-producing counties of the Commonwealth, which have been traditionally <br>underserved for pharmaceutical services due to a shortage of pharmacists in the <br>Commonwealth, the General Assembly hereby establishes a coal county scholarship <br>program to provide eligible Kentucky students the opportunity to attend an <br>accredited school of pharmacy or a provisionally accredited school of pharmacy in <br>the Commonwealth, and to become certified pharmacists in the Commonwealth, <br>provided that the scholarship recipient agrees to practice pharmacy in a coal-<br>producing county for each year a scholarship is provided. (2) "Coal-producing county" as used in this section has the same meaning as in KRS 42.4592(1)(c). (3) The authority may award scholarships, to the extent funds are available for that purpose, to any person who: <br>(a) Is a Kentucky resident; <br>(b) Is a United States citizen as determined by the institution in accordance with criteria established by the Council on Postsecondary Education for the <br>purposes of admission and tuition assessment; (c) Is enrolled or accepted for enrollment in a Pharm.D. program at an accredited institution or a provisionally accredited institution in the Commonwealth on a <br>full-time basis, or is a student who has a disability defined by Title II of the <br>Americans with Disabilities Act, 42 U.S.C. secs. 12131 et seq., certified by a <br>licensed physician to be unable to attend the eligible program of study full-<br>time because of the disability; (d) Agrees to render one (1) year of qualified service in a coal-producing county of the Commonwealth for each year the scholarship was awarded. "Qualified <br>service" means a full-time practice in a coal-producing county of the <br>Commonwealth of Kentucky as a licensed pharmacist for a majority of the <br>calendar year, except that an individual having a disability defined by Title II <br>of the Americans with Disabilities Act, 42 U.S.C. secs. 12131 et seq., whose <br>disability, certified by another licensed physician, prevents him or her from <br>practicing full-time, shall be deemed to perform qualified service by <br>practicing the maximum time permitted by the attending physician, in the <br>coal-producing county; and (e) Agrees to sign a promissory note as evidence of the scholarship awarded and the obligation to repay the scholarship amount or render pharmacy service as <br>agreed in lieu of payment. (4) (a) Notwithstanding KRS 164.753(3), the amount of the scholarship awarded to an eligible student by the authority shall not exceed the difference between the <br>prevailing amount charged for in-state tuition at the University of Kentucky <br>College of Pharmacy and the prevailing amount charged for tuition at the <br>institution at which the student is enrolled. The authority shall establish, by <br>administrative regulation a procedure for awarding scholarships which shall Page 2 of 3 give preference to students residing in coal-producing counties and which <br>shall establish procedures to award scholarships should funding be insufficient <br>to award scholarships to all eligible students. The authority may also, by <br>administrative regulation, establish scholarship amounts based on <br>demonstration of initial financial need by eligible students. (b) The actual amount of the scholarship awarded to each eligible student by the authority for each semester shall be based on the amount of funds available <br>and the criteria established under paragraph (a) of this subsection. (5) (a) The authority shall require each student receiving a scholarship to execute a promissory note as evidence of the obligation. (b) The recipient shall render one (1) year of qualified service in a coal-producing county for each year the scholarship was awarded. Upon completion of each <br>year of qualified service in a coal-producing county, the authority shall cancel <br>the appropriate number of promissory notes. Promissory notes shall be <br>canceled by qualified service in the order in which the promissory notes were <br>executed. Service credit shall not include residency service. (c) If a recipient fails to complete an eligible program of study, or fails to render service as a pharmacist as agreed in this subsection, the recipient shall be <br>liable for the total repayment of the sum of all outstanding promissory notes <br>and accrued interest. (6) Any person who is in default on any obligation to the authority under any program administered by the authority under KRS 164.740 to 164.785 shall not be awarded a <br>scholarship or have a promissory note canceled until all financial obligations to the <br>authority are satisfied, except that ineligibility for this reason may be waived by the <br>authority for cause. (7) A repayment obligation imposed by this section shall not be voidable by reason of the age of the recipient at the time of executing the promissory note. (8) Failure to meet repayment obligations imposed by this section shall be cause for the revocation of the scholarship recipient's license to practice pharmacy, subject to the <br>procedures set forth in KRS Chapter 311. (9) Notwithstanding KRS 164.753(3), the authority shall establish by administrative regulation procedures for the administration of this program, including but not <br>limited to the execution of appropriate contracts and promissory notes, cancellation <br>of obligations, the rate of repayment, and deferment of repayment of outstanding <br>debt. (10) Notwithstanding any other statute to the contrary, the maximum interest rate applicable to repayment of a promissory note under this section shall be twelve <br>percent (12%) per annum, except that if a judgment is rendered to recover payment, <br>the judgment shall bear interest at the rate of five percent (5%) greater than the rate <br>actually charged on the promissory note. (11) (a) The coal county pharmacy scholarship fund is hereby created as a revolving fund in the State Treasury to be administered by the Kentucky Higher Page 3 of 3 Education Assistance Authority for the purpose of providing scholarships to <br>qualifying students studying pharmacy in schools in the Commonwealth. (b) The fund shall consist of amounts transferred from coal severance tax receipts as provided in paragraph (c) of this subsection and any other proceeds from <br>grants, contributions, appropriations, or other moneys made available for the <br>fund. (c) 1. Receipts from the coal severance tax levied under KRS 143.020 shall be <br>transferred to the fund on an annual basis in an amount not to exceed the <br>lesser of: <br>a. Four percent (4%) of the total annual coal severance tax revenues <br>collected under KRS 143.020; or b. The amount necessary to provide full funding for all students who <br>qualify for a scholarship under this section, considering all other <br>resources available. 2. Transfers required by subparagraph 1. of this paragraph shall be made as <br>follows: <br>a. On or before August 1 of each year, sixty-five percent (65%) of the <br>amount of funding provided for in this paragraph shall be <br>transferred to the fund; and b. The remaining thirty-five percent (35%) shall be transferred on or <br>before December 1 of each year. 3. The amount transferred shall be based upon the prevailing revenue <br>estimate for coal severance tax receipts at the time each transfer is made. 4. The calculation and transfer of funds under this subsection shall be made <br>only after the quarterly installment of the annual nineteen million dollars <br>($19,000,000) allocation of coal severance tax revenues has been <br>credited to the benefit reserve fund within the Workers' Compensation <br>Funding Commission as required by KRS 342.122. (d) Any unallotted or unencumbered balances in the trust fund shall be invested as provided in KRS 42.500(9). (e) Income earned from the investments shall be credited to the trust fund. <br>(f) Notwithstanding KRS 45.229, any fund balance at the close of the fiscal year shall not lapse but shall be carried forward to the next fiscal year. (g) All amounts included in the fund shall be continuously appropriated only for the purposes specified in this section. (h) A general statement that all continuing appropriations are repealed, discontinued, or suspended shall not operate to repeal, discontinue, or suspend <br>this fund or to repeal this action. (i) All moneys repaid to the authority under this section shall be added to the fund. Effective: June 4, 2010 <br>History: Created 2010 (1st Extra. Sess.) Ky. Acts ch. 2, sec. 20, effective June 4, 2010. ]]>