§ 76-7,154 — Kansas campus restoration fund; expenditures; matching requirement, exceptions; interest earnings

Kansas § 76-7,154

• Jurisdiction: Kansas
• Ch. 76: STATE INSTITUTIONS AND AGENCIES; HISTORICAL PROPERTY
• Art. 7: STATE EDUCATIONAL INSTITUTIONS; MANAGEMENT AND OPERATION

Text

(a) There is hereby established in the state treasury the Kansas campus restoration fund. The Kansas campus restoration fund shall be administered by the board of regents. All expenditures from the fund shall be made in accordance with appropriation acts upon warrants of the director of accounts and reports issued pursuant to vouchers approved by the board of regents or by a person or persons designated by the board of regents.
(b) A deferred maintenance account of the fund shall be established for each postsecondary educational institution for the purpose of making capital improvement expenditures from the fund.
(c) (1) Except as provided in paragraphs (2) and (3), all expenditures from the fund shall require a match of nonstate moneys on a $1-for-$1 basis from either the postsecondary educational institution or private moneys.
(2) Expenditures from the fund for a community college, technical college, institute of technology or municipal university shall not require a match.
(3) Expenditures from the fund from a state educational institution's deferred maintenance account for demolition or razing of buildings or facilities on the campus of such state educational institution shall not require a match.
(d) On or before the 10 th day of each month, the director of accounts and reports shall transfer from the state general fund to the Kansas campus restoration fund interest earnings based on:
(1) The average daily balance of moneys in the Kansas campus restoration fund for the preceding month; and
(2) the net earnings rate for the pooled money investment portfolio for the preceding month.

Legislative History

L. 2024, ch. 71, § 2; July 1.