reglab/statecodes huggingface dataset:
Kentucky Administrative Regulations › Title 200 - FINANCE AND ADMINISTRATION CABINET › Chapter 14 - State Investment Commission › Section 200 KAR 14:011 - Qualified investments

Current through Register Vol. 51, No. 1, July 1, 2024
RELATES TO:
				KRS
				42.500(9)-(14), 42.520,
				42.525,
				17 C.F.R.
				270.2a-7, 15 U.S.C. 80a, 26 U.S.C.
				1-9834
NECESSITY, FUNCTION, AND CONFORMITY:
				KRS
				42.500(10) requires the
				State Investment Commission to promulgate administrative regulations for the
				investment and reinvestment of state funds.
				KRS
				42.520(2) requires the
				commission to promulgate administrative regulations concerning the assignment
				of priorities to public depositories.
				KRS
				42.525(1) requires the
				commission to promulgate administrative regulations for the investment and
				reinvestment of state funds and the acquisition, retention, management, and
				disposition of investments. This administrative regulation establishes the
				standards that govern the commonwealth's investment and cash management
				programs.
Section 1. Definitions.
(1) "Commission" means the State Investment
			 Commission.
(2) "Hedge" means a
			 position in a financial instrument taken to minimize or eliminate the risk
			 associated with an existing instrument or portfolio of instruments.
(3) "Interest rate swaps" means an agreement
			 governed by an International Swap and Derivatives Association master contract
			 between two (2) parties to exchange, or have the conditional right to exchange,
			 specified cash flows.
(4) "NRSRO"
			 means "Nationally Recognized Statistical Ratings Organization", which is a
			 credit rating agency that is registered with the Securities and Exchange
			 Commission, and which provides its opinion on the creditworthiness of an entity
			 and the financial obligations issued by that entity.
(5) "Office" means the Office of Financial
			 Management.
(6) "Options" means a
			 contract that provides the right, but not the obligation, to buy or sell a
			 specific amount of a security within a predetermined time period and includes
			 specific bonds or notes, an exchange traded futures contract, or the cash value
			 of an index.
(7) "Pools" means the
			 investment pools that are managed by the Office of Financial Management, under
			 the guidance of the commission.
Kentucky Administrative Regulations › Title 200 - FINANCE AND ADMINISTRATION CABINET › Chapter 14 - State Investment Commission › Section 200 KAR 14:081 - Repurchase agreement

Current through Register Vol. 51, No. 1, July 1, 2024
RELATES TO:
				KRS 41.610,
				42.500(9)-(14),
				42.520, 42.525
NECESSITY, FUNCTION, AND CONFORMITY:
				KRS
				42.500(10) requires the
				State Investment Commission to promulgate administrative regulations for the
				investment and reinvestment of state funds.
				KRS
				42.520(2) requires the
				commission to promulgate administrative regulations concerning the assignment
				of priorities to public depositories.
				KRS
				42.525(1) requires the
				commission to promulgate administrative regulations for the investment and
				reinvestment of state funds and the acquisition, retention, management, and
				disposition of investments. This administrative regulation establishes the
				general standards which shall apply to the employment of repurchase agreements
				as investment vehicles with eligible financial institutions.
Section 1. Definitions.
(1) "Commission" means the State Investment
			 Commission.
(2) "Eligible financial
			 institution" means an entity approved for repurchase agreements by the
			 commission.
(3) "Office" means the
			 Office of Financial Management.
(4)
			 "Repurchase agreement" means an actual, conditional purchase or sale of
			 securities of the United States Treasury, an agency, instrumentality, or
			 corporation of the United States, or another security authorized for investment
			 pursuant to
			 KRS
			 42.500(9)(a) or (b), with an
			 agreement to resell or repurchase the securities to their original owner on a
			 specific date in the future.
Kentucky Administrative Regulations › Title 200 - FINANCE AND ADMINISTRATION CABINET › Chapter 14 - State Investment Commission › Section 200 KAR 14:091 - Guidelines for money market instruments

Current through Register Vol. 51, No. 1, July 1, 2024
RELATES TO:
				KRS 41.610,
				42.014(1),
				42.500,
				42.505-42.545
NECESSITY, FUNCTION, AND CONFORMITY:
				KRS
				42.500(10) requires the
				State Investment Commission to promulgate administrative regulations for the
				investment and reinvestment of state funds.
				KRS
				42.520(2) requires the
				commission to promulgate administrative regulations concerning the assignment
				of priorities to public depositories.
				KRS
				42.525 requires the State Investment
				Commission to prescribe standards for the operation of the state's investment
				program. This administrative regulation establishes the standards which shall
				apply to the use of certain money market instruments which include bankers'
				acceptances, commercial paper, and negotiable collateralized and
				uncollateralized certificates of deposit.
Section
			 1. Definitions.
(1) "Bankers'
			 acceptance" means a short-term negotiable discount note drawn on and accepted
			 by a bank or trust company which is obligated to pay the face value amount at
			 maturity.
(2) "Commercial paper"
			 means an unsecured promissory obligation having a maturity of less than 270
			 days.
(3) "Commission" means the
			 State Investment Commission.
(4)
			 "NRSRO" means "Nationally Recognized Statistical Ratings Organization", which
			 is a credit rating agency that is registered with the Securities and Exchange
			 Commission, and which provides its opinion on the creditworthiness of an entity
			 and the financial obligations issued by that entity.
(5) "Office" means the Office of Financial
			 Management.
Kentucky Administrative Regulations › Title 200 - FINANCE AND ADMINISTRATION CABINET › Chapter 17 - Kentucky Infrastructure Authority › Section 200 KAR 17:010 - Guidelines for Infrastructure Revolving Fund

Current through Register Vol. 51, No. 1, July 1, 2024
RELATES TO:
				KRS
				96.540,
				147A.021,
				Chapter 224A
NECESSITY, FUNCTION, AND CONFORMITY:
				KRS
				224A.070(1) and
				224A.113
				authorize the Kentucky Infrastructure Authority to promulgate administrative
				regulations in accordance with KRS Chapter 13A to govern the application for
				and provision of financial assistance to governmental agencies for the
				construction or acquisition of infrastructure projects from the Infrastructure
				Revolving Fund established pursuant to
				KRS
				224A.112.
Section
			 1. Definitions.
(1) "Applicant"
			 means any eligible applicant, pursuant to Section 2 of this administrative
			 regulation, that has submitted an application for funds to the
			 Authority.
(2) "Authority" is
			 defined by
			 KRS
			 224A.011(4).
(3) "Closing date" means the date established
			 by the Authority for execution of the assistance agreement upon satisfaction of
			 the conditions contained in the conditional commitment letter.
(4) "Conditional commitment letter" means a
			 letter delivered to the applicant stating the Authority's commitment to provide
			 financial assistance subject to the satisfaction of certain conditions by the
			 applicant on or before the closing date.
(5) "Kentucky eClearinghouse" means the
			 automated Kentucky State Clearinghouse coordinating the Federal Executive
			 Review Process and Kentucky Intergovernmental Review Process, for which the
			 Department for Local Government, Office of the Governor, has been designated as
			 the single point of contact for federal or state funding financial assistance
			 as required by
			 KRS
			 147A.021(3)(k).
(6) "Kentucky State Data Center" means the
			 agency within the Urban Studies Institute of the University of Louisville
			 designated by the Commonwealth to serve as the repository and analyst of data
			 and information generated by the U. S. Census Bureau.
(7) "Median household income" means the
			 statistical middle value in household income, considering all households in
			 Kentucky, with an equal number of households above and below the middle value,
			 as determined by the Kentucky State Data Center.
(8) "Regionalization" means the creation of
			 expanded service areas which take in a large geographic area of multiple
			 systems; the creation of multijurisdictional utility commissions, special
			 districts, authorities, or corporations; the utilization of interlocal
			 cooperation agreements; the consolidated operation or management of multiple
			 systems which may include regional facilities, smaller systems, or onsite
			 systems; or the merger, consolidation, or combination of two (2) or more
			 existing facilities or systems.
Kentucky Administrative Regulations › Title 200 - FINANCE AND ADMINISTRATION CABINET › Chapter 17 - Kentucky Infrastructure Authority › Section 200 KAR 17:030 - Guidelines for Water Resources Loan Fund

Current through Register Vol. 51, No. 1, July 1, 2024
RELATES TO: KRS Chapter 224
NECESSITY, FUNCTION, AND CONFORMITY:
				KRS
				224A.070(1) and
				224A.113
				authorize the Kentucky Infrastructure Authority to promulgate administrative
				regulations in accordance with KRS Chapter 13A, to govern the application for
				and provision of financial assistance to governmental agencies for the
				construction or acquisition of water resources projects from the Drinking Water
				Loan Fund.
Section 1. Definitions. For
			 the purposes of this administrative regulation the words and terms used shall
			 have the same meaning as in
			 KRS
			 224A.011, with the following additions:
(1) "Applicant" shall mean any governmental
			 agency that has submitted an application to the authority for a loan from the
			 Water Resources Loan Fund.
(2)
			 "Application" shall mean the application submitted by an applicant for a loan
			 from the Water Resources Loan Fund.
(3) "State clearinghouse review" shall mean a
			 review conducted within the Department of Local Government pursuant to federal
			 or state law or regulations.
(4)
			 "Authority staff" shall mean the Office of Financial Management and Economic
			 Analysis.
(5) "Conditional
			 commitment letter" shall mean a letter delivered to the applicant issuing the
			 authority's commitment to provide a loan under specific terms and subject to
			 the satisfaction of certain conditions by the applicant on or before the
			 closing date.
(6) "Department"
			 shall mean the Department of Local Government.
(7) "Closing date" shall mean the date
			 established by the authority for execution of the assistance agreement upon
			 satisfaction of the conditions contained in the conditional commitment
			 letter.
(8) "Water Resources Loan
			 Fund" shall mean the Water Resources Loan Fund established pursuant to the
			 authority of KRS Chapter 224A.
(9)
			 "Capital investment plan" shall mean the plan developed by the applicant for
			 investment in capital projects as required by
			 KRS
			 224A.112(6)(b).
(10) "Index rate" shall mean the average of
			 the Bond Buyer's Index of twenty (20) G.O. Bonds as published weekly in the
			 Bond Buyer (a financial newspaper published in New York) calculated based on
			 the weeks falling within each calendar quarter. This average shall be rounded
			 the nearest one-tenth (.1) of one (1) percent.
(11) "Special Depreciation Fund" shall mean
			 the Special Depreciation Fund required to be established by an applicant by
			 Section 6 of this administrative regulation in connection with a loan from the
			 Water Resources Loan Program.
Kentucky Administrative Regulations › Title 200 - FINANCE AND ADMINISTRATION CABINET › Chapter 17 - Kentucky Infrastructure Authority › Section 200 KAR 17:090 - Guidelines Kentucky infrastructure authority grants from unobligated bond pool funds

Current through Register Vol. 51, No. 1, July 1, 2024
RELATES TO:
				KRS
				224A.011,
				224A.035,
				224A.040,
				224A.050,
				224A.050
				-224A.314
NECESSITY, FUNCTION, AND CONFORMITY:
				KRS
				224A.040 authorizes the Kentucky
				Infrastructure Authority to make grants as funds are available, and
				KRS
				224A.070(1) authorizes the
				Kentucky Infrastructure Authority to promulgate administrative regulations that
				shall define with specificity conditions precedent under which applications for
				loans or grants may be made and the order of priority upon which applications
				shall be acted upon.
				KRS
				224A.300 requires the authority to promulgate
				administrative regulations requiring a government agency, as defined by
				KRS
				224A.011(4), or a water
				association administering a water or wastewater system. This administrative
				regulation establishes procedures for the application for and provision of
				financial assistance to governmental agencies for the construction of
				infrastructure projects from funds available to the Kentucky Infrastructure
				Authority.
Section 1. Definitions.
(1) "Applicant" means a governmental agency
			 that has submitted an application to the authority for a loan or grant from
			 authority funds.
(2) "Application"
			 means an application submitted by an applicant for grant from the authority
			 funds.
(3) "Conditional commitment
			 letter" means a letter delivered to the applicant stating the authority's
			 commitment to provide a grant under specifications and subject to the
			 satisfaction of certain conditions by the applicant.
(4) "Kentucky State Clearinghouse" means the
			 project review mechanism, attached to the Department for Local Government,
			 established in
			 KRS
			 45.031
(5) "Kentucky Uniform System of Accounting"
			 means the elements of a basic accounting system, including a standardized
			 format for an annual budget, a chart of accounts with definitions, and a
			 monthly operating report to system managers established by the authority, which
			 is used by a water or wastewater system seeking or using funds of the authority
			 if an alternative accounting system has not been approved by the
			 authority.
(6) "Project" means an
			 infrastructure project related to drinking water or wastewater.
Kentucky Administrative Regulations › Title 200 - FINANCE AND ADMINISTRATION CABINET › Chapter 17 - Kentucky Infrastructure Authority › Section 200 KAR 17:110E - Guidelines for Kentucky Infrastructure Authority Drinking Water and Wastewater Grant Program

Current through Register Vol. 51, No. 1, July 1, 2024
RELATES TO:
				KRS
				45.031,
				151.601,
				151.605,
				224A.011,
				224A.020,
				224A.035,
				224A.040,
				224A.050
				-224A.314
NECESSITY, FUNCTION, AND CONFORMITY:
				KRS
				224A.040 authorizes the Kentucky
				Infrastructure Authority to make grants as funds are available, and
				KRS
				224A.070(1) authorizes the
				Kentucky Infrastructure Authority to promulgate administrative regulations that
				shall define with specificity conditions precedent under which applications for
				loans or grants may be made and the order of priority upon which applications
				shall be acted upon. Senate Bill 36, 2021 Regular Session Acts of the General
				Assembly, Chapter 195, requires the Authority to promulgate administrative
				regulations to ensure that project approvals are based on rational criteria and
				include a project's readiness to proceed and the project's social, economic,
				and environmental benefits. This administrative regulation establishes
				procedures for the application for and provision of financial assistance to
				governmental agencies for the construction of infrastructure projects from
				funds available to the Kentucky Infrastructure Authority.
Section 1. Definitions.
(1) "Applicant" means a governmental agency
			 that has submitted an application to the Authority for a grant from Authority
			 funds.
(2) "Application" means the
			 project information contained within the Water Resource Information System
			 Project Profile and designated by an applicant as applying for a grant from the
			 Drinking Water and Wastewater Grant Program funds.
(3) "Authority" means the Kentucky
			 Infrastructure Authority, which is created by KRS Chapter 224A.
(4) "Conditional commitment letter" means a
			 letter delivered to the applicant stating the Authority's commitment to provide
			 a grant under specifications and subject to the satisfaction of certain
			 conditions by the applicant.
(5)
			 "Kentucky State Clearinghouse" means the project review mechanism, attached to
			 the Department for Local Government, established in
			 KRS
			 45.031.
(6) "Kentucky Uniform System of Accounting"
			 means the elements of a basic accounting system established in
			 KRS
			 224A.306, which is used by a water or
			 wastewater system seeking or using funds of the Authority if an alternative
			 accounting system has not been approved by the Authority.
(7) "Project" means an infrastructure project
			 related to drinking water or wastewater.
(8) "Unserved" means a customer who does not
			 have access to publicly available potable drinking water or a properly
			 functioning wastewater system.
Kentucky Administrative Regulations › Title 200 - FINANCE AND ADMINISTRATION CABINET › Chapter 21 - Underwriter and Bond Counsel Selection Process › Section 200 KAR 21:010 - Procedure for prequalification of underwriters and bond counsel for state bond issues

Current through Register Vol. 51, No. 1, July 1, 2024
RELATES TO: KRS 11A.001-11A.990,
				45A.485,
				45A.853,
				45A.863,
				121.015-121.056,
				121.150,
				121.310,
				121.320,
				121.330
NECESSITY, FUNCTION, AND CONFORMITY:
				KRS
				45A.879 requires the Office of Financial
				Management to promulgate administrative regulations to carry out the provisions
				of
				KRS
				45A.840 to
				45A.879,
				pertaining to underwriter and bond counsel services. This administrative
				regulation establishes the procedure for prequalifying underwriting and bond
				counsel firms.
Section 1. General
			 Requirements for Prequalification of Underwriters and Bond Counsel.
(1) The office shall determine, in
			 consultation with each bond issuing agency, the need for issuing requests for
			 proposals for underwriting and bond counsel services for bond issuing
			 agencies.
(2) Based on the
			 determination of need, the office shall draft a request for qualifications for
			 underwriting and bond counsel services for a bond issuing agency which needs
			 the services.
(3) A request for
			 qualifications shall include the following:
(a) A description of the bond issuing agency
			 for which the request for qualifications is being issued;
(b) A requirement that the firm disclose
			 information which would impair the firm's ability to provide the level and type
			 of services needed by the bond issuing agency;
(c) A requirement that the firm certify, by
			 sworn statement, that the firm has complied with campaign finance laws
			 established in
			 KRS
			 121.015 to
			 121.056,
			 121.150,
			 121.310,
			 121.320,
			 121.330;
(d) A requirement that the firm certify that
			 it has complied with and is not prohibited by the Executive Branch Code of
			 Ethics,
			 KRS
			 11A.001 to
			 11A.990,
			 from entering into a contract with the Commonwealth of Kentucky;
(e) A requirement that the firm certify that
			 it has complied with
			 KRS
			 45A.485;
(f) A statement that the firm is not
			 prohibited by
			 KRS
			 45A.863 from entering into a contract with
			 the Commonwealth of Kentucky;
(g) A
			 statement that the Commonwealth shall not be liable for costs associated with a
			 firm's preparation and submission of a response to a request for
			 qualifications; and
(h) A
			 description of the process by which a response to the request for
			 qualifications shall be evaluated by the office.
Kentucky Administrative Regulations › Title 200 - FINANCE AND ADMINISTRATION CABINET › Chapter 21 - Underwriter and Bond Counsel Selection Process › Section 200 KAR 21:020 - Evaluation factors for bond counsel and underwriters

Current through Register Vol. 51, No. 1, July 1, 2024
RELATES TO:
				KRS
				45A.853
NECESSITY, FUNCTION, AND CONFORMITY:
				KRS
				45A.853 provides that the Office of Financial
				Management shall consult with the bond issuing agency to arrive at a request
				for proposals for bond counsel and underwriter for a bond issuance.
				KRS
				45A.853 further provides that the relative
				weight of the evaluation factors shall be included in the request for
				proposals. This administrative regulation establishes some of the evaluation
				factors which shall be included in a request for proposals for bond counsel or
				underwriters.
Section 1. Evaluation
			 Factors for Bond Counsel and Underwriters. The Office of Financial Management,
			 after consulting with the bond issuing agency, shall develop a request for
			 proposals for bond counsel or underwriter, as applicable, for the bond issuing
			 agency or bond project. The request for proposals shall include the relative
			 weight of the evaluation factors. The total points for all evaluation factors
			 shall not exceed 100 points. The evaluation factors shall include, but not be
			 limited to, the following:
(1) For requests
			 for proposals for bond counsel services:
(a)
			 Relevant experience of the firm.
(b) Experience and availability of the
			 individual firm members proposed to work on the bond issuance.
(c) Proposed fee.
Kentucky Administrative Regulations › Title 200 - FINANCE AND ADMINISTRATION CABINET › Chapter 21 - Underwriter and Bond Counsel Selection Process › Section 200 KAR 21:040 - Selection of national comanaging underwriters

Current through Register Vol. 51, No. 1, July 1, 2024
RELATES TO:
				KRS
				45A.850(4)
NECESSITY, FUNCTION, AND CONFORMITY:
				KRS
				45A.850(4) provides that
				national comanaging underwriters for bond issues of state bond issuing agencies
				shall be selected pursuant to an administrative regulation promulgated by the
				Office of Financial Management. This administrative regulation establishes the
				procedure for selecting national comanaging underwriters for bond issues of
				state bond issuing agencies.
Section 1.
			 Definition. For purposes of this administrative regulation the term "national
			 comanaging underwriter" shall mean a financial institution whose headquarters
			 are located outside the Commonwealth of Kentucky, which has offices in multiple
			 states, and which assists in the structuring, underwriting and marketing of
			 bonds issued by governmental agencies.
Section
			 2. Selection of National Comanaging Underwriters.
(1) National comanaging underwriters for bond
			 issuances of state bond issuing agencies, as defined in
			 KRS
			 45A.840(3), shall be
			 selected pursuant to the request for proposal process established by
			 KRS
			 45A.853 and
			 45A.857
			 for the same bond issuing agency or bond project for which the request for
			 proposals was issued for underwriters.
(2) After an underwriter has been selected
			 for a bond issuing agency or bond project, a national comanaging underwriter
			 may be selected based on the rankings of the selection committee. The national
			 comanaging underwriter, if any, shall be the highest ranked firm, other than
			 the underwriter selected, which has a municipal bonds sales office located in
			 the Commonwealth.
(3) If the
			 Executive Director of the Office of Financial Management recommends, pursuant
			 to
			 KRS
			 45A.850(4), that more than
			 one (1) national comanaging underwriter should be utilized on a bond issuance,
			 any additional national comanaging underwriters shall be selected in the order
			 of the ranking as determined by the selection committee for the respective bond
			 issuing agency or bond project.
Kentucky Administrative Regulations › Title 200 - FINANCE AND ADMINISTRATION CABINET › Chapter 21 - Underwriter and Bond Counsel Selection Process › Section 200 KAR 21:050 - Establishment of rates to reimburse underwriters for counsel

Current through Register Vol. 51, No. 1, July 1, 2024
RELATES TO:
				KRS
				45A.877
NECESSITY, FUNCTION, AND CONFORMITY:
				KRS
				45A.877 requires the Office of Financial
				Management to establish and maintain a schedule of rates at which underwriters
				will be reimbursed for fees and expenses of the counsel they retain for a bond
				issuance of a state bond issuing agency. This administrative regulation
				establishes the rate schedule for underwriters' counsel.
Section 1. Rates to be Reimbursed for Counsel
			 to Underwriters. When an underwriter is utilized on a bond issuance of a state
			 bond issuing agency, the amount of expenses to be paid to the underwriter for
			 reimbursement of its cost of retaining legal counsel for legal services
			 relating to the bond issuance shall be as follows:
(1) For bond issuances with principal amounts
			 from zero to $10,000,000, the rate shall be equal to the fee paid to bond
			 counsel on the same bond issuance.
(2) For bond issuances with principal amounts
			 greater than $10,000,000 to $25,000,000, the rate shall be equal to
			 seventy-five (75) percent of the fee paid to bond counsel on the same bond
			 issuance.
(3) For bond issuances
			 with principal amounts greater than $25,000,000 to $50,000,000, the rate shall
			 be equal to sixty-five (65) percent of the fee paid to bond counsel on the same
			 bond issuance.
(4) For bond
			 issuances with principal amounts in excess of $50,000,000, the rate shall be
			 equal to fifty-five (55) percent of the fee paid to bond counsel on the same
			 bond issuance.
(5) Notwithstanding
			 the provisions of subsections (1) through (4) of this section, the minimum rate
			 at which an underwriter shall be reimbursed for its legal counsel for legal
			 services related to the issuance of bonds of a state bond issuing agency shall
			 be equal to ten (10) cents per $1,000 of principal amount of bonds issued, not
			 to exceed the fee paid to bond counsel on the same bond issuance.
(6) All rates reimbursed pursuant to this
			 administrative regulation shall be inclusive of all expenses.
Kentucky Administrative Regulations › Title 200 - FINANCE AND ADMINISTRATION CABINET › Chapter 23 - Kentucky Asset/Liability Commission › Section 200 KAR 23:010 - Guidelines for use of financial agreements

Current through Register Vol. 51, No. 1, July 1, 2024
RELATES TO:
				KRS
				56.863(9)
NECESSITY, FUNCTION, AND CONFORMITY:
				KRS
				56.863(9) requires that the
				Kentucky Asset/Liability Commission promulgate administrative regulations that
				limit the net exposure of the Commonwealth as a result of the commission
				entering into financial agreements. This administrative regulation establishes
				the limits under which the commission may enter into financial
				agreements.
Section 1. Definitions.
			 For the purpose of this administrative regulation:
(1) "Hedge" means a position in a financial
			 agreement taken to minimize or eliminate the risk associated with an existing
			 instrument or portfolio of instruments;
(2) "Net exposure" means the difference
			 between the sum of the notional amount of financial agreements based on
			 interest-sensitive assets or interest-sensitive liabilities under which
			 variable payments are owed, less the sum of the notional amount of financial
			 agreements based on interest-sensitive assets or interest-sensitive liabilities
			 under which fixed payments are owed, respectively;
(3) "Notional amount" means the nominal
			 amount on which a financial agreement is based;
(4) "Obligations" means notes, leases, bonds,
			 or other financial liabilities;
(5)
			 "Par amount" means the face or nominal value of a security.
Kentucky Administrative Regulations › Title 200 - FINANCE AND ADMINISTRATION CABINET › Chapter 26 - Kentucky Gas Pipeline Authority › Section 200 KAR 26:010 - KGPA operating procedures

Current through Register Vol. 51, No. 1, July 1, 2024
RELATES TO:
				KRS
				42.420,
				45.810,
				56.450,
				56.870(3),
				Chapter 148, Chapter 154, 353.750-353.776
NECESSITY, FUNCTION, AND CONFORMITY:
				KRS
				353.754(5) requires the
				Kentucky Gas Pipeline Authority to promulgate administrative regulations for
				the conducting of its business and affairs. This administrative regulation
				establishes the operating procedures for the Kentucky Gas Pipeline
				Authority.
Section 1. Definitions.
(1) "Full-time job" means a position filled
			 by an employee, except for contract or part-time employees, that the company
			 projects will work on an annual basis 1,820 hours.
(2) "KGPA" means the Kentucky Gas Pipeline
			 Authority, created and established by
			 KRS
			 353.750.
(3) "KPABAC" means the Kentucky Private
			 Activity Bond Allocation Committee, created and established by
			 KRS
			 103.286.
(4) "Project" is defined in
			 KRS
			 353.750(5).
Kentucky Administrative Regulations › Title 200 - FINANCE AND ADMINISTRATION CABINET › Chapter 38 - Office of the Controller › Section 200 KAR 38:040 - Allocation of fees for disabled permit parking violations

Current through Register Vol. 51, No. 1, July 1, 2024
RELATES TO:
				KRS
				24A.180,
				189.456,
				189.459,
				189.990,
				205.900-205.920
NECESSITY, FUNCTION, AND CONFORMITY:
				KRS 189.990 imposes a
				$250 fine on a person for violating disabled parking provisions set out in
				KRS
				189.459(2) and (3). This
				administrative regulation provides for the allocation of those fines for the
				purposes specified in
				KRS 189.990.
Section 1. Monthly, district court clerks
			 shall deposit the general fund of the state treasury and report to the Finance
			 and Administration Cabinet the $250 fines collected pursuant to
			 KRS 189.990 for
			 violation of the disabled parking provisions.
Section 2. The fines and costs collected
			 shall be allocated as follows:
(1) Ninety (90)
			 percent of the amount remitted to the state treasury shall be distributed
			 monthly by the Finance and Administration Cabinet to the Health and Family
			 Services Cabinet to be used for the Personal Care Assistance Program pursuant
			 to
			 KRS
			 205.900 to
			 205.920.
(2) Ten (10) percent of the amount remitted
			 to the State Treasury shall be distributed annually by the Finance and
			 Administration Cabinet to the fiscal court in the county where the violation
			 occurred, and then distributed equally by the fiscal court to all law
			 enforcement agencies within the county.
Kentucky Administrative Regulations › Title 200 - FINANCE AND ADMINISTRATION CABINET › Chapter 38 - Office of the Controller › Section 200 KAR 38:050 - Advancements to sheriffs

Current through Register Vol. 51, No. 1, July 1, 2024
RELATES TO:
				KRS
				64.140
NECESSITY, FUNCTION, AND CONFORMITY:
				KRS
				42.0201(3) requires the
				state controller to be responsible for all aspects of accounting policies and
				procedures, financial accounting systems, and internal accounting control
				policies and procedures.
				KRS
				64.140 provides for advancements to county
				sheriffs to defray official expenses. This administrative regulation provides
				for advancement to sheriffs of counties with a population of less than
				70,000.
Section 1. Definitions.
(1) "Branch" means the County Fee Systems
			 Branch.
(2) "Cabinet" means the
			 Finance and Administration Cabinet.
(3) "Secretary" means the secretary of the
			 Finance and Administration Cabinet.
Kentucky Administrative Regulations › Title 200 - FINANCE AND ADMINISTRATION CABINET › Chapter 38 - Office of the Controller › Section 200 KAR 38:060 - Reimbursement to law enforcement officers for certain expenses

Current through Register Vol. 51, No. 1, July 1, 2024
RELATES TO:
				KRS
				29A.180
NECESSITY, FUNCTION, AND CONFORMITY:
				KRS
				29A.180 requires the Finance and
				Administration Cabinet to promulgate administrative regulations concerning the
				reimbursement of law enforcement officers for certain jury and juror expenses.
				This administrative regulation establishes the method of reimbursing law
				enforcement officers for expenses incurred for sequestered jurors, for
				transporting jurors or other authorized persons to views of the scene and for
				providing specialized security personnel, equipment or services to the
				court.
Section 1. Definitions
(1) "Branch" means the County Fee Systems
			 Branch in the Division of Local Government Services.
(2) "Cabinet" means the Finance and
			 Administration Cabinet.
(3)
			 "Officer" means the sheriff, city police, or city marshal incurring expenses
			 pursuant to
			 KRS
			 29A.180.
Kentucky Administrative Regulations › Title 200 - FINANCE AND ADMINISTRATION CABINET › Chapter 40 - Fleet Management › Section 200 KAR 40:010 - Motor pool procedure

Current through Register Vol. 51, No. 1, July 1, 2024
RELATES TO:
				KRS
				42.0171(2),
				44.045
NECESSITY, FUNCTION, AND CONFORMITY:
				KRS
				44.045(6) authorizes the
				secretary of the Finance and Administration Cabinet to promulgate an
				administrative regulation governing the use of state-owned vehicles. This
				administrative regulation establishes the procedures by which a state employee
				may use a motor pool vehicle and the employee's resulting responsibility for
				the motor vehicle.
Section 1. In order
			 to facilitate the administration and operation of the state motor pool, the
			 Guide for Drivers of the Commonwealth's Vehicles and the Agency Guide for the
			 Commonwealth's Vehicles shall govern the use and assignment of state motor pool
			 vehicles, the operation and care of those vehicles, and the use of fuel credit
			 cards.
Section 2. Any employee who
			 fails to adhere to the requirements of this administrative regulation is
			 subject to disciplinary action pursuant to
			 KRS
			 18A.095.
Section 3. Incorporation by Reference.
(1) The following material is incorporated by
			 reference:
(a) "Guide for Drivers of the
			 Commonwealth's Vehicles", 2/2015; and
(b) "Agency Guide for the Commonwealth's
			 Vehicles", 2/2015.
Kentucky Administrative Regulations › Title 200 - FINANCE AND ADMINISTRATION CABINET › Chapter 40 - Fleet Management › Section 200 KAR 40:020 - Purchase, use, lease, maintenance, and disposal of state-owned motor vehicles

Current through Register Vol. 51, No. 1, July 1, 2024
RELATES TO:
				KRS
				42.0171(2),
				44.045
NECESSITY, FUNCTION, AND CONFORMITY:
				KRS
				44.045(6) authorizes the
				Secretary of the Finance and Administration Cabinet to promulgate
				administrative regulations governing the use of state-owned vehicles. This
				administrative regulation establishes procedures governing the purchase,
				licensure, use, lease, maintenance, and disposal of state-owned
				vehicles.
Section 1. Definitions.
(1) "Agency-specific motor pool" means the
			 fleet of passenger carrying motor vehicles owned, operated, and maintained by a
			 state agency other than the Finance and Administration Cabinet.
(2) "Cabinet" means the Finance and
			 Administration Cabinet.
(3)
			 "Division" means the Finance and Administration Cabinet, Division of Fleet
			 Management.
(4) "Exempt vehicle"
			 means a motor vehicle that is not part of the statewide motor pool.
(5) "Motor vehicle" is defined in
			 KRS
			 281.011(2).
(6) "Nonexempt vehicle" means a motor vehicle
			 under the control of the statewide motor pool.
(7) "Passenger carrying vehicle" means a
			 motor vehicle whose primary purpose is to transport people.
(8) "Secretary" means the Secretary of the
			 Finance and Administration Cabinet.
(9) "Statewide motor pool" means the fleet of
			 passenger carrying motor vehicles operated, controlled, and maintained by the
			 Finance and Administration Cabinet, Division of Fleet Management.
Kentucky Administrative Regulations › Title 201 - GENERAL GOVERNMENT CABINET › Chapter 1 - Board of Accountancy › Section 201 KAR 1:015 - Per diem compensation

Current through Register Vol. 51, No. 1, July 1, 2024
RELATES TO:
				KRS
				325.230
NECESSITY, FUNCTION, AND CONFORMITY:
				KRS
				325.240(2) authorizes the
				Kentucky State Board of Accountancy to promulgate administrative regulations
				for the administration of KRS Chapter 325.
				KRS
				325.230(2) requires the
				board to establish the amount of per diem compensation to be paid to board
				members, not to exceed $200. This administrative regulation establishes the per
				diem amount to be received by board members.
Section 1. Each member of the board shall
			 receive $200 for each day spent in the discharge of his or her official
			 duties.
STATUTORY AUTHORITY:
				  KRS
				  325.230(2),
				  325.240(2)
Kentucky Administrative Regulations › Title 201 - GENERAL GOVERNMENT CABINET › Chapter 1 - Board of Accountancy › Section 201 KAR 1:020 - Members of board

Current through Register Vol. 51, No. 1, July 1, 2024
RELATES TO:
				KRS
				325.230,
				325.240
NECESSITY, FUNCTION, AND CONFORMITY: To elect officers of the
				State Board of Accountancy of Kentucky.
Section
			 1. The annual election of officers of the board shall be held at
			 the meeting immediately preceding July 1st of each year. All officers shall
			 continue in office until new officers have been elected.
STATUTORY AUTHORITY:
				  KRS
				  325.240
Kentucky Administrative Regulations › Title 201 - GENERAL GOVERNMENT CABINET › Chapter 1 - Board of Accountancy › Section 201 KAR 1:050 - Accountancy license application

Current through Register Vol. 51, No. 1, July 1, 2024
RELATES TO:
				KRS
				325.261,
				325.280,
				325.330
NECESSITY, FUNCTION, AND CONFORMITY:
				KRS
				325.240(2) authorizes the
				Kentucky State Board of Accountancy to promulgate administrative regulations
				for the administration of KRS Chapter 325.
				KRS
				325.330(1)(c) requires the
				board to promulgate administrative regulations establishing an application
				process. This administrative regulation establishes the requirements for
				obtaining a license as a certified public accountant.
Section 1.
(1) A person who has met the qualifications
			 established in KRS
			 325.261 shall submit the Application for
			 License.
(2) With his or her
			 application, the person shall include:
(a) A
			 check or money order, which is nonrefundable, made payable to the Kentucky
			 State Board of Accountancy for $100;
(b) The certificate of experience as
			 established in
			 201 KAR 1:063;
(c) A list of colleges and universities the
			 applicant attended with graduation dates, degrees awarded, and the "official
			 transcript" as defined by
			 201 KAR 1:190, Section 1, unless
			 it is already in the possession of the board;
(d) An "official transcript" as defined by
			 201 KAR 1:190, Section 1, from an
			 accredited college or university as established in
			 201 KAR 1:190, which verifies
			 that the candidate has satisfied the 150-hour requirement of
			 KRS
			 325.261;
(e) Proof of successful completion of the
			 Uniform CPA Exam. If the applicant successfully completed the examination in
			 Kentucky, documentation shall not be required. If the examination was
			 successfully completed in another jurisdiction, the applicant shall have an
			 Authorization for Interstate Exchange of Information submitted to the board on
			 his or her behalf; and
(f) If the
			 applicant is not a citizen of the United States, documentation from the:
1. United States Citizenship and Immigration
			 Services, or its successor, to verify the person is legally residing in the
			 United States; or
2. Employer that
			 verifies the person is an employee of a public accounting firm, company, or
			 institution of postsecondary education located outside the United States, which
			 also has an office or campus located in the United
			 States.
Kentucky Administrative Regulations › Title 201 - GENERAL GOVERNMENT CABINET › Chapter 1 - Board of Accountancy › Section 201 KAR 1:063 - Certificate of experience

Current through Register Vol. 51, No. 1, July 1, 2024
RELATES TO:
				KRS
				325.261,
				325.340(1)(h)
NECESSITY, FUNCTION, AND CONFORMITY:
				KRS
				325.240(2) authorizes the
				Kentucky State Board of Accountancy to promulgate administrative regulations
				for the administration of KRS Chapter 325. This administrative regulation
				establishes requirements for documenting experience when applying to become a
				certified public accountant.
Section
			 1. Definitions.
(1) "One (1)
			 year" means the completion of 2,000 hours of employment obtained after the
			 award of a baccalaureate degree during an employment period of not less than
			 twelve (12) months, excluding any leave or holiday time.
(2) "Verification" means confirmation by a
			 certified public accountant, as described in
			 KRS
			 325.261(6), of the truth or
			 accuracy of the applicant's accounting or attest experience.
Kentucky Administrative Regulations › Title 201 - GENERAL GOVERNMENT CABINET › Chapter 1 - Board of Accountancy › Section 201 KAR 1:065 - Individual license renewal and fee

Current through Register Vol. 51, No. 1, July 1, 2024
RELATES TO:
				KRS
				325.330
NECESSITY, FUNCTION, AND CONFORMITY:
				KRS
				325.240(2) authorizes the
				Kentucky State Board of Accountancy to promulgate administrative regulations
				for the administration of KRS Chapter 325.
				KRS
				325.330(7)(b) requires the
				board to promulgate administrative regulations establishing license renewal
				procedures for certified public accountants. This administrative regulation
				establishes the procedures and fees for a certified public accountant to renew
				his or her license.
Section 1. Except
			 as provided in
			 201
			 KAR 1:140, Sections 2 and 3, a certified public
			 accountant seeking to renew his or her license shall:
(1) Utilize the online License Renewal System
			 offered by the board at
www.cpa.ky.gov
;
(2) Pay a non-refundable renewal fee in the
			 amount of $100; and
(3) Pay the
			 fees charged by Kentucky.gov or its successor to utilize the online
			 process.
Kentucky Administrative Regulations › Title 201 - GENERAL GOVERNMENT CABINET › Chapter 1 - Board of Accountancy › Section 201 KAR 1:081 - Firm license, renewal, and reinstatement

Current through Register Vol. 51, No. 1, July 1, 2024
RELATES TO:
				KRS
				325.220(6),
				325.301,
				325.380
NECESSITY, FUNCTION, AND CONFORMITY:
				KRS
				325.240(2) authorizes the
				Kentucky State Board of Accountancy to promulgate administrative regulations
				for the administration of KRS Chapter 325.
				KRS
				325.301(4) through (8)
				require the board to promulgate administrative regulations concerning
				applications, renewals, and related fees. This administrative regulation
				establishes the procedures for firms to obtain and renew a license to practice
				as required by KRS
				325.301.
Section
			 1. Definitions.
(1) "Certified
			 public accountant owner" means a certified public accountant with a current and
			 active license to practice issued by a state board of accountancy and who is
			 operating a public accounting firm as a:
(a)
			 Shareholder in a corporation;
(b)
			 Partner in a partnership or registered limited liability partnership;
(c) Member of a limited liability company;
			 or
(d) Sole proprietor.
Kentucky Administrative Regulations › Title 201 - GENERAL GOVERNMENT CABINET › Chapter 1 - Board of Accountancy › Section 201 KAR 1:100 - Continuing professional education requirements

Current through Register Vol. 51, No. 1, July 1, 2024
RELATES TO:
				KRS
				325.330
NECESSITY, FUNCTION, AND CONFORMITY:
				KRS
				325.240(2) authorizes the
				Kentucky State Board of Accountancy to promulgate administrative regulations
				for the administration of KRS Chapter 325.
				KRS
				325.330(4) and (7)(b) 1
				require the board to promulgate administrative regulations to establish the
				continuing professional education requirements for certified public
				accountants. This administrative regulation establishes the continuing
				professional education requirements a certified public accountant shall satisfy
				to renew a license.
Section 1.
			 Definitions.
(1) "Continuing professional
			 education hour" or "CPE hour" means a fifty (50) minute period excluding meals,
			 breaks, and business sessions.
(2)
			 "Technical standards courses" means continuing education courses if the subject
			 matter area of the courses are accounting, auditing, business law, economics,
			 finance, information technology, management services, professional ethics,
			 statistics, securities, tax, and specialized areas of industry, all of which
			 shall contribute directly to the professional competence of a
			 licensee.
(3) "Worked" means hours
			 devoted by a licensee that are documented as billable and nonbillable hours to
			 a public accounting firm or client.
Kentucky Administrative Regulations › Title 201 - GENERAL GOVERNMENT CABINET › Chapter 1 - Board of Accountancy › Section 201 KAR 1:140 - Procedures for the reinstatement or reissuance of a CPA license

Current through Register Vol. 51, No. 1, July 1, 2024
RELATES TO:
				KRS
				325.330(6),
				325.360,
				325.370
NECESSITY, FUNCTION, AND CONFORMITY:
				KRS
				325.240(2) authorizes the
				Kentucky State Board of Accountancy to promulgate administrative regulations
				for the administration of KRS Chapter 325.
				KRS
				325.330(6) and (7) and
				325.370 authorize the board to
				reinstate and reissue licenses that have expired, been suspended, revoked or
				denied renewal. This administrative regulation establishes the procedures for
				reinstating or reissuing a license.
Section
			 1. Definition. "Accounting or auditing course" means:
(1) A field of study dealing with
			 pronouncements of authoritative accounting principles issued by the standard
			 setting bodies; and
(2)
(a) Auditing subjects related to the
			 examination of financial statements, operations, systems, and
			 programs;
(b) The review of
			 internal and management controls;
(c) The reporting on the results of audit
			 findings;
(d)
			 Compilations;
(e) Reviews;
			 and
(f) Other related subjects
			 generally classified with the accounting discipline, except for courses in tax
			 and computer software training.
Kentucky Administrative Regulations › Title 201 - GENERAL GOVERNMENT CABINET › Chapter 1 - Board of Accountancy › Section 201 KAR 1:150 - Procedures for the dissemination of information relative to hearings held before the Kentucky State Board of Accountancy

Current through Register Vol. 51, No. 1, July 1, 2024
RELATES TO:
				KRS
				325.360(10), (11)
NECESSITY, FUNCTION, AND CONFORMITY:
				KRS
				325.240(2) authorizes the
				Kentucky State Board of Accountancy to promulgate administrative regulations
				for the administration of KRS Chapter 325. This administrative regulation
				establishes requirements for the dissemination of information.
Section 1. Following the board's adoption of
			 a final order which concludes a disciplinary action, the name of the licensee
			 and a summary of the findings shall be published in the next edition of the
			 board's newsletter and a copy of the order shall be placed on the board's Web
			 site,
www.cpa.ky.gov
.
STATUTORY AUTHORITY:
				  KRS
				  325.240(2)
Kentucky Administrative Regulations › Title 201 - GENERAL GOVERNMENT CABINET › Chapter 1 - Board of Accountancy › Section 201 KAR 1:160 - Peer reviews

Current through Register Vol. 51, No. 1, July 1, 2024
RELATES TO:
				KRS
				325.301(12)
NECESSITY, FUNCTION, AND CONFORMITY:
				KRS
				325.301(12) requires a firm
				that performs an audit, review, or compilation to enroll in and complete an
				approved peer review program. This administrative regulation establishes the
				standards and procedures that a CPA firm shall follow to comply with the
				requirements of
				KRS
				325.301(12).
Section 1. Definitions.
(1) "Peer review Web site" means a web page
			 operated and maintained by a sponsoring organization on which documents
			 associated with peer reviews performed by that organization's approved agent
			 are posted and made available to the board.
(2) "Sponsoring organization" means an entity
			 administering a peer review program whose standards of review are equivalent to
			 or better than the "Standards for Performing and Reporting on Peer Reviews" of
			 the American Institute of Certified Public Accountants.