Kan. Admin. Regs. § 110-13-4

Current through Register Vol. 43, No. 49, December 5, 2024

Section 110-13-4 - Regional business development funds; eligible projects

(a) Each regional foundation shall administer a regional business development fund.

(b) The sums generated by contributions to each regional business development fund shall be allocated according to the following provisions:

(1) No less than 60 percent may be allocated for job creation or retention.

(2) A maximum of 10 percent may be allocated towards the administrative cost of overseeing the project.

(3) The remaining funds may be allocated towards other eligible activities in a manner that fits the region's priorities and needs.

(c) Contributions to the fund shall be utilized by the regional foundation for one or more of the following projects:

(1) Business start-ups;

(2) business expansion;

(3) business retention;

(4) business support services;

(5) regional leadership development;

(6) technology improvements; and

(7) administrative services.

(d) All interest generated on idle funds administered for this program by the regional foundation shall be used by the foundation's board in a manner not inconsistent with this regulation.

(e) Any regional foundation may exceed the maximum percentages allowed for one or more eligible projects with the prior approval of the secretary.

Kan. Admin. Regs. § 110-13-4

Authorized by K.S.A. 2004 Supp. 74-5002r; implementing K.S.A. 74-5005, as amended by L. 2005, ch. 104, sec. 9, and K.S.A. 74-5007a; effective Aug. 12, 2005; amended May 5, 2006.