Section 154.14-NEW - [Newly enacted section not yet numbered](1) There is hereby established in the State Treasury a trust and agency account to be known as the Government Resources Accelerating Needed Transformation Program of 2024 fund. The fund shall consist of moneys received from state appropriations, gifts, grants, and federal funds.(2) The fund shall be administered and maintained by the cabinet.(3) Amounts deposited in the fund shall be used for awarding:(a) Matching funds to applicants of the Government Resources Accelerating Needed Transformation Program of 2024 upon notification of award of the federal grant requiring matching funds. Up to twenty percent (20%) of the amounts deposited in the fund shall be used for match awards for nonprofit charitable organizations organized under 26 U.S.C. sec. 501(c)(3); and(b) Matching funds to applicants of the Government Resources Accelerating Needed Transformation Program of 2024 upon notification of award of the federal grant requiring matching funds. Up to eighty percent (80%) of the amounts deposited in the fund shall be used for match awards to county or city governing bodies.(4) Notwithstanding KRS 45.229, moneys in the account not expended at the close of a fiscal year shall not lapse but shall be carried forward into the next fiscal year.(5) Any interest earnings of the fund shall become a part of the fund and shall not lapse.(6) Moneys deposited in the fund are hereby appropriated for the purposes set forth in this section and shall not be appropriated or transferred by the General Assembly for any other purposes.(7) Any match funds awarded under subsection (3) of this section shall be canceled upon denial of the federal award.(8) On or after June 30, 2024, any unencumbered moneys in the fund established in Section 10 of this Act, shall be transferred to the Government Resources Accelerating Needed Transformation Program of 2024 fund administered by the Cabinet for Economic Development created in this section.Added by 2024 Ky. Acts ch. TBD,§ 6, eff. 4/12/2024.