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Kentucky Revised Statutes Title XII. Conservation and State Development § 154.12-224.Department for Financial Services

Current as of January 01, 2025 | Updated by Findlaw Staff

(1) There is created in the Cabinet for Economic Development the Department for Financial Services. The department shall be headed by a commissioner appointed by the secretary pursuant to KRS 154.10-050. The department shall coordinate administration and monitoring of all financial assistance, tax credit, and related programs available for business and industry and shall provide all budgeting, accounting, personnel services, and information technology necessary for proper administration of the cabinet and cabinet programs.

(2) The department shall include the following divisions, each of which shall be headed by a director appointed by the secretary pursuant to KRS 12.050:

(a) The Finance and Personnel Division, which shall provide financial, personnel, facility, and contract administration services;

(b) The Compliance Division, which shall monitor incentives and collect and maintain data on incentives after they are awarded;

(c) The Program Administration Division, which shall coordinate necessary documentation and assist the Department for Business and Community Development in preparing recommendations and finalizing documents for presentation to the authority or other body for consideration and approval; and

(d) The IT and Resource Management Division, which shall coordinate facility services and internal information technology needs.

(3) The department shall include the Kentucky Economic Development Finance Authority.

(4) The department shall include the Bluegrass State Skills Corporation established by KRS 154.12-205.

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Cite this article: FindLaw.com - Kentucky Revised Statutes Title XII. Conservation and State Development § 154.12-224.Department for Financial Services - last updated January 01, 2025 | https://codes.findlaw.com/ky/title-xii-conservation-and-state-development/ky-rev-st-sect-154-12-224/

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