Kentucky Revised Statutes Title XIII. Education § 164.786.Dual Credit Scholarship Program

(a) “Academic term” means the fall or spring academic semester;

(b) “Academic year” means July 1 through June 30 of each year;

(c) “Approved dual credit course” means a dual credit course developed in accordance with KRS 164.098 and shall include:

(d) “Authority” means the Kentucky Higher Education Assistance Authority;

(e) “Dual credit” has the same meaning as in KRS 158.007;

(f) “Dual credit tuition rate ceiling” means one-third (1/3) of the per credit hour tuition amount, rounded down to the nearest whole dollar, charged by the Kentucky Community and Technical College System for in-state students;

(g) “Eligible high school student” means a student who:

(h) “Participating institution” means a postsecondary institution that:

(i) “Successfully completed” means a student receiving both secondary and postsecondary credit upon completion of an approved dual credit course.

(4)(a) Each high school shall apply to the authority for dual credit scholarship funds for each eligible high school student.

(b) The authority may award a dual credit scholarship to an eligible high school student for an academic term on a first-come, first-served basis by application date, to the extent funds are available for that purpose.

(c) An eligible high school student may receive a dual credit scholarship for a maximum of:

(d) The dual credit scholarship award amount shall be equal to the amount charged by a participating institution, not to exceed the dual credit tuition rate ceiling for each dual credit hour.

(e) Dual credit scholarship funds shall not be used for remedial or developmental coursework.

(a) The number of students, by local school district and in total, served by the Dual Credit Scholarship Program; and

(b) The number of general education and career and technical education dual credits earned by students by high school and in total.

(8)(a) The Dual Credit Scholarship Program trust fund is hereby created as a trust fund in the State Treasury to be administered by the Kentucky Higher Education Assistance Authority for the purpose of providing scholarships described in this section.

(b) The trust fund shall consist of state general fund appropriations, gifts and grants from public and private sources, and federal funds.

(c) Any unallotted or unencumbered balances in the trust fund shall be invested as provided in KRS 42.500(9). Income earned from the investments shall be credited to the trust fund.

(d) Notwithstanding KRS 45.229, any fund balance at the close of the fiscal year shall not lapse but shall be carried forward to the next fiscal year.