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AN ACT relating to Kentucky State University and declaring an emergency.
Be it enacted by the General Assembly of the Commonwealth of Kentucky:
→SECTION 1. A NEW SECTION OF KRS CHAPTER 164 IS CREATED TO READ AS FOLLOWS:
- Kentucky State University, recognized as an 1890 land-grant university that is Kentucky's only public Historically Black College or University (HBCU), shall be a four (4) year residential polytechnic institution that focuses on highly technical, industry-based applied learning and offers liberal studies and polytechnic programs that are aligned with the workforce needs of the Commonwealth and consistent with the historical mission of an HBCU.
- The General Assembly declares that a state of financial exigency exists at Kentucky State University for five (5) years from the effective date of this Act or until such a date that the General Assembly affirmatively declares, based upon the recommendation of the Council on Postsecondary Education, that the university's finances are stable, whichever occurs first.
- (a) Kentucky State University shall not enter into any obligation or make any expenditure costing twenty thousand dollars ($20,000) or more without prior approval of the Council on Postsecondary Education, including but not limited to any purchase, contract, or increase due to a personnel action.
- (b)Kentucky State University shall:
- Provide a monthly report of university finances to the Council on Postsecondary Education in the format requested by the council. The council shall provide a quarterly update on the financial status of the university to the Governor and the Legislative Research Commission;
- Fully cooperate with the council in its exercise of the financial oversight granted to the council under this subsection;
- Timely provide all information and documentation deemed by the