Section 224.50-880 - Waste tire trust fund(1) A waste tire trust fund is established in the state treasury. The fund shall be used by the cabinet for the following purposes: (a) Properly managing waste tires;(b) Paying the costs associated with any waste tire amnesty program established by the cabinet that permits waste tires to be turned in without incurring fees, charges, or penalties;(c) Paying the Department of Revenue's costs of assessing and collecting the fee established by KRS 224.50-868;(d) Entering into the agreements described in KRS 224.50-876; and(e) Awarding the grants described in KRS 224.50-878. The cabinet shall utilize no more than twenty-five percent (25%) of the funds for the administrative costs related to implementing the waste tire program. All remaining funds shall be utilized, in accordance with KRS 224.50-850 to 224.50-880, for waste tire amnesty programs, crumb rubber grants, tire-derived fuel programs, and other projects that will manage waste tires as appropriate to protect human health, safety, and the environment, or to develop markets for waste tires.
(2) All interest earned on money in the fund shall be credited to the fund.(3) Money unexpended at the end of a fiscal year shall not lapse to the general fund.(4) Any money remaining in the waste tire trust fund established by KRS 224.50-820 shall be transferred to the fund established by this section.Effective:6/8/2011
Amended 2011, Ky. Acts ch. 34, sec. 5, effective6/8/2011. -- Amended 2005, Ky. Acts ch. 85, sec. 631, effective 6/20/2005. -- Amended 2002, Ky. Acts ch. 46, sec. 3, effective 7/15/2002. -- Created 1998, Ky. Acts ch. 529, sec. 16, effective 7/15/1998.