UNOFFICIAL COPY 24 RS BR 1027
Page 1 of 1
XXXX 2/14/2024 2:00 PM Jacketed
AN ACT relating to branch budget bills. 1
Be it enacted by the General Assembly of the Commonwealth of Kentucky: 2
ď˘Section 1. KRS 48.720 is amended to read as follows: 3
In the event that any authorized capital construction or equipment purchase projects are 4
canceled, or if conditions imposed by any branch budget bill are not met, any 5
appropriated general or road fund debt service for those projects shall remain unallotted 6
and lapse to the credit of the respective surplus account. In the event that general or road 7
fund appropriated debt service is more than is required due to favorable interest rates, 8
refinancing, or timing variances, the excess debt service in each fiscal year of the 9
biennium shall remain unallotted and lapse to the credit of the respective surplus account. 10