Section 164.0402 - Legislative intent - Kentucky healthcare workforce investment fund - Administrative regulations(1) It is the intent of the General Assembly to address Kentucky's persistent shortage of a broad spectrum of certified and licensed healthcare professionals, including nurses, mental health professionals, and emergency medical services professionals, by incentivizing collaboration between healthcare programs, healthcare industry partners, and the Commonwealth to grow and strengthen the education and training pipeline of healthcare professionals within Kentucky to better serve patients across the Commonwealth by: (a) Improving the ability of a broad variety of Kentucky's healthcare programs to meet the workforce demands and capacity of the Commonwealth, including the workforce demands of historically underserved counties;(b) Raising awareness of and interest in a broad variety of healthcare occupations and reducing the barriers of access to the healthcare programs necessary to pursue these occupations, including financial barriers;(c) Increasing knowledge and awareness of opportunities in high-need areas of healthcare, including but not limited to geriatrics and neurology;(d) Improving pathways between high school career and technical programs and other healthcare programs; and(e) Developing strategies for healthcare organizations to support career growth and development for their employees.(2) There is hereby created the Kentucky healthcare workforce investment fund to be administered by the council for the purpose of funding: (a) Public and private partnerships to provide healthcare training scholarships in accordance with KRS 164.0403 to reduce the financial barriers of Kentucky residents seeking high-demand eligible healthcare credentials;(b) Healthcare program incentives in accordance with KRS 164.0404 to reward performance and excellence among the Commonwealth's healthcare programs; and(c) The council's administrative, research, consulting, fundraising, planning, and analysis costs of KRS 164.0401 to 164.0407.(3)(a) It is the intent of the General Assembly to encourage private financial and philanthropic support of the Kentucky healthcare workforce investment fund, as the healthcare industry directly benefits from a well-trained workforce capable of meeting its employment needs and the needs of patients. To the extent allowed by applicable laws, the fund may directly accept gifts, grants, or donations subject to restrictions imposed by a grantor.(b) Notwithstanding KRS 45.229, any moneys appropriated to the fund by the General Assembly remaining in the fund at the end of any fiscal year prior to the 2029-2030 fiscal year shall not lapse.(c) Any moneys appropriated to the fund by the General Assembly remaining in the fund at the end of the 2029-2030 fiscal year shall be forfeited and shall lapse to the general fund.(d) Any moneys contributed by grantors remaining in the fund at the end of the 2029-2030 fiscal year shall be returned to each grantor proportionally based on the amount donated by the grantor in relation to the total amount donated by all grantors.(4) Subject to available funds, the Kentucky healthcare workforce investment fund shall consist of any: (a) Appropriations designated for the fund;(b) Funds, grants, and receipts from the council's fundraising activities on behalf of the fund; and(c) Other moneys made available for the purposes of the fund.(5) Any interest earnings of the fund shall become a part of the fund and shall lapse only as provided in subsection (3) of this section, except that interest on moneys contributed by a grantor shall not lapse. Moneys in the fund are hereby appropriated for the purposes set forth in this section.(6) The portion of the fund expended towards the council's costs of administering KRS 164.0401 to 164.0407 shall not exceed four percent (4%) of all gross moneys in the fund or one million five hundred thousand dollars ($1,500,000) annually, whichever is less.(7)(a) The council shall promulgate administrative regulations by July 1, 2023, in accordance with this subsection and KRS Chapter 13A to administer KRS 164.0401 to 164.0407.(b) At least thirty (30) days before filing an administrative regulation with the regulations compiler, the council shall first submit the draft administrative regulation, a detailed implementation plan, and other documents required to be filed by KRS Chapter 13A to the members of the Interim Joint Committee on Education and the Interim Joint Committee on Health Services for review and comment.(c) The council shall consider any comments and recommendations provided by the members of the Interim Joint Committee on Education and the Interim Joint Committee on Health Services before filing the administrative regulation.Added by 2023 Ky. Acts ch. 65,§ 2, eff. 3/22/2023.