State Codes and Statutes

Statutes > Kentucky > 042-00 > 409

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42.409 Definitions for KRS 42.410 and 45.760. As used in KRS 42.410 and 45.760, unless the context requires otherwise: <br>(1) &quot;State total personal income&quot; means the measure of all income received by or on behalf of persons in the Commonwealth, as most recently published in the Survey <br>of Current Business by the United States Department of Commerce, Bureau of <br>Economic Analysis. (2) &quot;Estimated state total personal income&quot; means the personal income figure used by the Governor's Office for Economic Analysis to generate final detailed revenue <br>estimates. (3) &quot;Total revenues&quot; means revenues credited to the general fund and the road fund consistent with the provisions of KRS 48.120, as well as any restricted agency fund <br>account from which debt service is expended. (4) &quot;Anticipated total revenues&quot; means the official revenue estimates, as provided for in KRS 48.120, projected for the general fund and the road fund, as well as any <br>restricted agency fund account from which debt service is expended. (5) &quot;Available revenues&quot; means revenues credited to the general fund and the road fund consistent with the provisions of KRS 48.120, as well as any restricted agency fund <br>account from which debt service is expended, minus any statutorily dedicated <br>receipts of the respective funds. (6) &quot;Anticipated available revenues&quot; means official revenue estimates, as provided for in KRS 48.120, projected for the general fund and the road fund, as well as any <br>restricted agency fund account from which debt service is expended, minus any <br>statutorily dedicated receipts of the respective funds. (7) &quot;Total assessed value of property&quot; means state total net assessed value of property for taxes due, as obtained from the Department of Revenue. (8) &quot;Per capita&quot; means per unit of population, where population figures are the most recent available from the University of Louisville, Kentucky State Data Center. (9) &quot;Appropriation-supported debt service&quot; means the amount of an appropriation identified to be expended for debt service purposes in the executive budget <br>recommendation, and the amount of an appropriation expended for debt services in <br>a completed fiscal year. (10) &quot;Appropriation-supported debt&quot; means the outstanding principal of bonds issued by all state agencies and all individuals, agencies, authorities, boards, cabinets, <br>commissions, corporations, or other entities of, or representing the Commonwealth <br>with the authority to issue bonds, and for which debt service is appropriated by the <br>General Assembly. (11) &quot;Nonappropriation-supported debt&quot; means the outstanding principal of bonds issued by all state agencies and all individuals, agencies, authorities, boards, cabinets, <br>commissions, corporations, or other entities of, or representing the Commonwealth <br>with the authority to issue bonds, and for which debt service is not appropriated by <br>the General Assembly. (12) &quot;Statutorily dedicated receipts&quot; means revenues credited to the general fund and road fund consistent with the provisions of KRS 48.120, as well as any restricted <br>agency fund account, which are required by an enacted statute to be used for a <br>specific purpose. Statutorily dedicated receipts include, but are not limited to, the <br>following: <br>(a) Receipts credited to the general fund which are subject to KRS 42.450 to 42.495, KRS 278.130 to 278.150, or KRS 350.139; (b) Receipts credited to the road fund which are subject to KRS 175.505, KRS 177.320, KRS 177.365 to 177.369, KRS 177.9771 to 177.979, KRS 186.531, <br>or KRS 186.535; and (c) Receipts credited to a restricted agency fund account in accordance with any applicable statute. (13) &quot;True interest cost&quot; means the bond yield according to issue price without a reduction for related administrative costs, and is the same figure as the arbitrage <br>yield calculation described in the United States Tax Reform Act of 1986. Effective: June 25, 2009 <br>History: Amended 2009 Ky. Acts ch. 78, sec. 27, effective June 25, 2009. -- Amended 2005 Ky. Acts ch. 85, sec. 52, effective June 20, 2005. -- Amended 2004 Ky. Acts <br>ch. 78, sec. 3, effective April 6, 2004. -- Amended 2000 Ky. Acts ch. 46, sec. 7, <br>effective July 14, 2000. -- Created 1990 Ky. Acts ch. 30, sec. 1, effective July 13, <br>1990. Legislative Research Commission Note (6/25/2009). As submitted by the drafter, Proposed Senate Committee Substitute to House Bill 423, which became 2009 Ky. <br>Acts ch. 78, contained references to &quot;KRS 48.120(2)&quot; with &quot;(2)&quot; bracketed and <br>stricken through in subsections (4) and (6) of this statute. However, during the <br>processing of that document, the brackets and striking lines were inadvertently <br>omitted from &quot;(2).&quot; This manifest clerical or typographical error has been corrected <br>during codification by the Reviser of Statutes under the authority of KRS 7.136(1).

State Codes and Statutes

Statutes > Kentucky > 042-00 > 409

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42.409 Definitions for KRS 42.410 and 45.760. As used in KRS 42.410 and 45.760, unless the context requires otherwise: <br>(1) &quot;State total personal income&quot; means the measure of all income received by or on behalf of persons in the Commonwealth, as most recently published in the Survey <br>of Current Business by the United States Department of Commerce, Bureau of <br>Economic Analysis. (2) &quot;Estimated state total personal income&quot; means the personal income figure used by the Governor's Office for Economic Analysis to generate final detailed revenue <br>estimates. (3) &quot;Total revenues&quot; means revenues credited to the general fund and the road fund consistent with the provisions of KRS 48.120, as well as any restricted agency fund <br>account from which debt service is expended. (4) &quot;Anticipated total revenues&quot; means the official revenue estimates, as provided for in KRS 48.120, projected for the general fund and the road fund, as well as any <br>restricted agency fund account from which debt service is expended. (5) &quot;Available revenues&quot; means revenues credited to the general fund and the road fund consistent with the provisions of KRS 48.120, as well as any restricted agency fund <br>account from which debt service is expended, minus any statutorily dedicated <br>receipts of the respective funds. (6) &quot;Anticipated available revenues&quot; means official revenue estimates, as provided for in KRS 48.120, projected for the general fund and the road fund, as well as any <br>restricted agency fund account from which debt service is expended, minus any <br>statutorily dedicated receipts of the respective funds. (7) &quot;Total assessed value of property&quot; means state total net assessed value of property for taxes due, as obtained from the Department of Revenue. (8) &quot;Per capita&quot; means per unit of population, where population figures are the most recent available from the University of Louisville, Kentucky State Data Center. (9) &quot;Appropriation-supported debt service&quot; means the amount of an appropriation identified to be expended for debt service purposes in the executive budget <br>recommendation, and the amount of an appropriation expended for debt services in <br>a completed fiscal year. (10) &quot;Appropriation-supported debt&quot; means the outstanding principal of bonds issued by all state agencies and all individuals, agencies, authorities, boards, cabinets, <br>commissions, corporations, or other entities of, or representing the Commonwealth <br>with the authority to issue bonds, and for which debt service is appropriated by the <br>General Assembly. (11) &quot;Nonappropriation-supported debt&quot; means the outstanding principal of bonds issued by all state agencies and all individuals, agencies, authorities, boards, cabinets, <br>commissions, corporations, or other entities of, or representing the Commonwealth <br>with the authority to issue bonds, and for which debt service is not appropriated by <br>the General Assembly. (12) &quot;Statutorily dedicated receipts&quot; means revenues credited to the general fund and road fund consistent with the provisions of KRS 48.120, as well as any restricted <br>agency fund account, which are required by an enacted statute to be used for a <br>specific purpose. Statutorily dedicated receipts include, but are not limited to, the <br>following: <br>(a) Receipts credited to the general fund which are subject to KRS 42.450 to 42.495, KRS 278.130 to 278.150, or KRS 350.139; (b) Receipts credited to the road fund which are subject to KRS 175.505, KRS 177.320, KRS 177.365 to 177.369, KRS 177.9771 to 177.979, KRS 186.531, <br>or KRS 186.535; and (c) Receipts credited to a restricted agency fund account in accordance with any applicable statute. (13) &quot;True interest cost&quot; means the bond yield according to issue price without a reduction for related administrative costs, and is the same figure as the arbitrage <br>yield calculation described in the United States Tax Reform Act of 1986. Effective: June 25, 2009 <br>History: Amended 2009 Ky. Acts ch. 78, sec. 27, effective June 25, 2009. -- Amended 2005 Ky. Acts ch. 85, sec. 52, effective June 20, 2005. -- Amended 2004 Ky. Acts <br>ch. 78, sec. 3, effective April 6, 2004. -- Amended 2000 Ky. Acts ch. 46, sec. 7, <br>effective July 14, 2000. -- Created 1990 Ky. Acts ch. 30, sec. 1, effective July 13, <br>1990. Legislative Research Commission Note (6/25/2009). As submitted by the drafter, Proposed Senate Committee Substitute to House Bill 423, which became 2009 Ky. <br>Acts ch. 78, contained references to &quot;KRS 48.120(2)&quot; with &quot;(2)&quot; bracketed and <br>stricken through in subsections (4) and (6) of this statute. However, during the <br>processing of that document, the brackets and striking lines were inadvertently <br>omitted from &quot;(2).&quot; This manifest clerical or typographical error has been corrected <br>during codification by the Reviser of Statutes under the authority of KRS 7.136(1).

State Codes and Statutes

State Codes and Statutes

Statutes > Kentucky > 042-00 > 409

Download pdf
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42.409 Definitions for KRS 42.410 and 45.760. As used in KRS 42.410 and 45.760, unless the context requires otherwise: <br>(1) &quot;State total personal income&quot; means the measure of all income received by or on behalf of persons in the Commonwealth, as most recently published in the Survey <br>of Current Business by the United States Department of Commerce, Bureau of <br>Economic Analysis. (2) &quot;Estimated state total personal income&quot; means the personal income figure used by the Governor's Office for Economic Analysis to generate final detailed revenue <br>estimates. (3) &quot;Total revenues&quot; means revenues credited to the general fund and the road fund consistent with the provisions of KRS 48.120, as well as any restricted agency fund <br>account from which debt service is expended. (4) &quot;Anticipated total revenues&quot; means the official revenue estimates, as provided for in KRS 48.120, projected for the general fund and the road fund, as well as any <br>restricted agency fund account from which debt service is expended. (5) &quot;Available revenues&quot; means revenues credited to the general fund and the road fund consistent with the provisions of KRS 48.120, as well as any restricted agency fund <br>account from which debt service is expended, minus any statutorily dedicated <br>receipts of the respective funds. (6) &quot;Anticipated available revenues&quot; means official revenue estimates, as provided for in KRS 48.120, projected for the general fund and the road fund, as well as any <br>restricted agency fund account from which debt service is expended, minus any <br>statutorily dedicated receipts of the respective funds. (7) &quot;Total assessed value of property&quot; means state total net assessed value of property for taxes due, as obtained from the Department of Revenue. (8) &quot;Per capita&quot; means per unit of population, where population figures are the most recent available from the University of Louisville, Kentucky State Data Center. (9) &quot;Appropriation-supported debt service&quot; means the amount of an appropriation identified to be expended for debt service purposes in the executive budget <br>recommendation, and the amount of an appropriation expended for debt services in <br>a completed fiscal year. (10) &quot;Appropriation-supported debt&quot; means the outstanding principal of bonds issued by all state agencies and all individuals, agencies, authorities, boards, cabinets, <br>commissions, corporations, or other entities of, or representing the Commonwealth <br>with the authority to issue bonds, and for which debt service is appropriated by the <br>General Assembly. (11) &quot;Nonappropriation-supported debt&quot; means the outstanding principal of bonds issued by all state agencies and all individuals, agencies, authorities, boards, cabinets, <br>commissions, corporations, or other entities of, or representing the Commonwealth <br>with the authority to issue bonds, and for which debt service is not appropriated by <br>the General Assembly. (12) &quot;Statutorily dedicated receipts&quot; means revenues credited to the general fund and road fund consistent with the provisions of KRS 48.120, as well as any restricted <br>agency fund account, which are required by an enacted statute to be used for a <br>specific purpose. Statutorily dedicated receipts include, but are not limited to, the <br>following: <br>(a) Receipts credited to the general fund which are subject to KRS 42.450 to 42.495, KRS 278.130 to 278.150, or KRS 350.139; (b) Receipts credited to the road fund which are subject to KRS 175.505, KRS 177.320, KRS 177.365 to 177.369, KRS 177.9771 to 177.979, KRS 186.531, <br>or KRS 186.535; and (c) Receipts credited to a restricted agency fund account in accordance with any applicable statute. (13) &quot;True interest cost&quot; means the bond yield according to issue price without a reduction for related administrative costs, and is the same figure as the arbitrage <br>yield calculation described in the United States Tax Reform Act of 1986. Effective: June 25, 2009 <br>History: Amended 2009 Ky. Acts ch. 78, sec. 27, effective June 25, 2009. -- Amended 2005 Ky. Acts ch. 85, sec. 52, effective June 20, 2005. -- Amended 2004 Ky. Acts <br>ch. 78, sec. 3, effective April 6, 2004. -- Amended 2000 Ky. Acts ch. 46, sec. 7, <br>effective July 14, 2000. -- Created 1990 Ky. Acts ch. 30, sec. 1, effective July 13, <br>1990. Legislative Research Commission Note (6/25/2009). As submitted by the drafter, Proposed Senate Committee Substitute to House Bill 423, which became 2009 Ky. <br>Acts ch. 78, contained references to &quot;KRS 48.120(2)&quot; with &quot;(2)&quot; bracketed and <br>stricken through in subsections (4) and (6) of this statute. However, during the <br>processing of that document, the brackets and striking lines were inadvertently <br>omitted from &quot;(2).&quot; This manifest clerical or typographical error has been corrected <br>during codification by the Reviser of Statutes under the authority of KRS 7.136(1).