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<br><br>42.190 Cost projections of Firefighters Foundation Program fund and Law <br>Enforcement Foundation Program fund -- Disposition of funds collected under <br>KRS 136.392 -- Lapsing of certain funds -- Monthly reports. <br>(1) On June 1, 1982, and then on or before the first day of each December, March, <br>June, and September thereafter, the cabinet shall request in writing of the <br>administrator of the Firefighters Foundation Program fund, which is established by <br>KRS 95A.220, and of the administrator of the Law Enforcement Foundation <br>Program fund, which is established by KRS 15.430, cost projections of their <br>respective funds for the next quarter. Based on these projections, the cabinet shall <br>determine the proportionate share of total insurance premium surcharge proceeds, <br>prescribed in KRS 136.392, to accrue to each fund. <br>(2) On or before the first day of each quarter, the cabinet shall certify to the State <br>Treasurer a distribution schedule describing the proportionate share of total <br>insurance premium surcharge proceeds accruing to each fund during such quarter, <br>and the State Treasurer shall pay into each fund's trust and agency account its <br>proportionate share of all deposited tax moneys as set forth and in the manner as <br>prescribed in KRS 136.392. <br>(3) Moneys deposited in the Firefighters Foundation Program fund's trust and agency <br>account, and in the Law Enforcement Foundation Program fund's trust and agency <br>account, shall be invested by the state in accordance with state investment practices, <br>and all earnings from such investments shall accrue to, and be paid into the <br>respective account from which such investments are made. All moneys remaining <br>on deposit at the close of the state's fiscal year in the Firefighters Foundation <br>Program fund's trust and agency account and all earnings from investments made <br>from moneys in this account in excess of three million dollars (&#36;3,000,000), <br>beginning with fiscal year 1994-95, through June 30, 1999, shall lapse, except that <br>moneys in the revolving loan fund established in KRS 95A.262 shall not lapse. All <br>moneys remaining on deposit at the close of the state's fiscal year in the Law <br>Enforcement Foundation Program fund's trust and agency account, and all earnings <br>from investments made from moneys in this account, in excess of three million <br>dollars (&#36;3,000,000), beginning with fiscal year 1994-95, through June 30, 1999, <br>shall lapse. On and after July 1, 1999, moneys in these accounts shall not lapse. <br>(4) The cabinet shall provide monthly financial reports to the administrator of the <br>Firefighters Foundation Program fund and the administrator of the Law <br>Enforcement Foundation Program fund respecting the amount of funds received and <br>on deposit in each fund and the amount of earnings accruing to each fund from their <br>investment. <br>Effective: July 15, 1998 <br>History: Amended 1998 Ky. Acts ch. 244, sec. 6, effective July 15, 1998; and ch. 510, <br>sec. 6, effective July 15, 1998. -- Amended 1992 Ky. Acts ch. 381, sec. 6, effective <br>July 14, 1992. -- Amended 1984 Ky. Acts ch. 300, sec. 2, effective July 13, 1984. -- <br>Created 1982 Ky. Acts ch. 246, sec. 2, effective July 15, 1982. <br>Legislative Research Commission Note (7/15/98). This section was amended by 1998 <br>Ky. Acts ch. 244, sec. 6, and ch. 510, sec. 6, which are identical and have been <br>codified together. <br><br>