2-223.   State fair capital improvements fund;authorized use; Kansas development finance authority, revenue bonds authorized;annual transfers to fund; certification of amounts by state fairboard.(a) There is hereby established in the state treasury thestate fair capital improvements fund.All expenditures of moneys in the state fair capital improvements fund shall beused for the paymentof capital improvements and maintenance for the state fairgrounds and thepayment of capitalimprovement obligations that have been financed. Capital improvement projectsfor the Kansas statefairgrounds are hereby approved for the purposes of subsection (b) of K.S.A.74-8905 andamendments thereto and the authorization of the issuance of bonds by the Kansasdevelopmentfinance authority in accordance with that statute.

      (b)   On each June 30, the state fair board shall certify to the director ofaccounts and reportsan amount to be transferred from the state fair fee fund to the state faircapital improvements fund,which amount shall be not less than the amount equal to 5% of the total grossreceipts during thecurrent fiscal year from state fair activities and non-fair days activities.Upon receipt of suchcertification, the director of accounts and reports shall transfer moneys fromthe state fair fee fundto the state fair capital improvements fund in accordance with suchcertification.

      (c)   On each July 1, the director of accounts and reports shall transfer fromthe state generalfund to the state fair capital improvements fund, an amount equal to the amountcertified by the statefair board pursuant to subsection (b), except that: (1) No transfer from thestate general fund underthis subsection shall exceed $300,000 in any fiscal year; (2) alltransfers made in accordancewith the provisions of this section during the fiscal years ending June 30,2010, and June 30,2011, shall be considered to be revenue transfers from thestate general fund; and (3) nomoneys shall be transferred pursuant to this section from the state generalfund to the state faircapital improvements fund during the fiscal year ending June 30, 2010.

      History:   L. 1988, ch. 21, § 1;L. 1998, ch. 76, § 2;L. 2001, ch. 216, § 64;L. 2003, ch. 138, § 122;L. 2004, ch. 123, § 168;L. 2005, ch. 174, § 177;L. 2006, ch. 142, § 156;L. 2007, ch. 167, § 194;L. 2008, ch. 131, § 165;L. 2009, ch. 124, § 135; July 1.