Kentucky HB 231: AN ACT relating to the Treasury.

Bill Text

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AN ACT relating to the Treasury. 1
Be it enacted by the General Assembly of the Commonwealth of Kentucky: 2
Section 1. KRS 41.010 is amended to read as follows: 3
(1) As used in KRS 41.070, 41.110, 41.120, 41.130,[ 41.150, 41.160,] 41.280, 41.290, 4
or 41.300,[ or 41.990,] unless the context requires otherwise, the terms 5
"appropriation," "budget unit," "disbursements," "expenditures," "expenses," and 6
"receipts" have the meaning given them by KRS 43.010 and 48.010. 7
(2) As used in this chapter: 8
(a) "Administrative body" includes an authority, board, bureau, interstate 9
compact, commission, committee, conference, council, or any other form of 10
organization in the executive branch of state government, but does not 11
include office, department, program cabinet, or division; 12
(b) "Agency" means any state administrative body, program cabinet, office, 13
department, or division; 14
(c) "Assistant" means Assistant Treasurer; 15
(d) "Bank" includes[and "depository" include] any bank or[qualified financial 16
intermediary and] savings and loan association[associations] located within 17
the Commonwealth of Kentucky chartered by the State of Kentucky or the 18
United States government designated to take custody of state funds on deposit, 19
for periods greater than overnight, with the intent to honor presentments 20
against those deposits; 21
(e) "Check," unless the context requires otherwise, means either a paper check 22
or a paperless entry on an electronic data processing medium that 23
substitutes for a paper check and of which a permanent record is made for 24
purposes of debiting or crediting an account; 25
(f) "Collateral" means the listed securities and other obligations in subsection 26
(4) of Section 12 of this Act; 27

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[(b) "Warrant" means a printed or electronic authorization from the Finance and 1
Administration Cabinet for the Treasurer to issue a check;] 2
(g)[(c)] "Form" or "report" means any written method of transporting data; 3
(h) "Secretary" means the secretary of the Finance and Administration 4
Cabinet; 5
(i) "State depository" means any bank designated to take custody of state 6
funds on deposit pursuant to Section 10 of this Act; 7
(j) "Warrant" means a printed or electronic authorization from the Finance 8
and Administration Cabinet for the Treasurer to issue a check; and 9
(k)[(d)] "Writing" or "written" means letters, words, or numbers, or their 10
equivalent, set down by handwriting, typewriting, printing, photostating, 11
photographing, magnetic impulse, mechanical or electronic recording, or other 12
form of data compilation. 13
Section 2. KRS 41.060 is amended to read as follows: 14
(1) The Treasurer shall appoint an assistant and may remove him or her at pleasure. 15
The assistant shall take the constitutional oath. The assistant may perform any of 16
the duties of the Treasurer, excepting the signing of checks, and shall perform the 17
duties of clerk. 18
(2) If the Treasurer is incapacitated[disabled by sickness], or is absent[if he absents 19
himself] from the seat of government, the assistant shall[he shall notify the 20
Governor in writing of the facts, and recommend his assistant or some other person 21
to] discharge the duties of the office during the incapacity[his sickness] or absence 22
of the Treasurer.[ If the Governor approves the recommendation he shall enter his 23
approval on the executive journal, after which the assistant or other person may 24
perform all the duties of the Treasurer until he is restored to health or returns to the 25
seat of government. ] 26
(3) The Treasurer and his or her sureties shall be responsible on his or her bond for all 27

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the acts and omissions of the assistant. 1
(4) The salary of the assistant shall be fixed by the Treasurer, subject to the provisions 2
of KRS Chapter 18A[12.050, 12.060, 18A.020, 18A.095 to 18A.110, 18A.120 to 3
18A.165, 18A.180 and 18A.185]. 4
Section 3. KRS 41.070 is amended to read as follows: 5
(1) Unless otherwise expressly provided by law, no receipts from any source of state 6
money or money for which the state is responsible shall be held, used, or deposited 7
in any personal or special bank account, temporarily or otherwise, by any agent or 8
employee of any budget unit, to meet expenditures or for any other purpose. 9
(2) All receipts of any character of any budget unit, all revenue collected for the state, 10
and all public money and dues to the state shall be deposited in state depositories in 11
the most prompt and cost-efficient manner available. However in the case of state 12
departments or agencies located outside Frankfort, and all state institutions, the 13
Finance and Administration Cabinet may permit temporary deposits to be made to 14
the accounts m