Section 164.7015 - Aviation training scholarship program(1) The council shall reserve at least sixty-five percent (65%) of all net moneys in the fund for partnership proposals between aviation programs and aviation industry partners to provide aviation training scholarships to Kentucky residents enrolled in aviation programs.(2) In accepting partnerships, the council shall collaborate with the advisory committee to evaluate each partnership proposal to determine if the proposal meets the requirements of this section and administrative regulations promulgated by the council. The administrative regulations shall create a process to prioritize accepting partnerships to proposals targeted to reduce the workforce demand of a specific eligible aviation credential that is determined by the council, in collaboration with the advisory committee, to be among the highest in demand in the Commonwealth based on objective criteria.(3) A partnership shall require a written partnership contract between an aviation program, aviation industry partner, and the council. The partnership contract shall: (a) Prohibit any disbursement of moneys from the fund until the moneys appropriated by the General Assembly to be distributed are matched, at least dollar for dollar, with moneys deposited to the fund by the aviation industry partner;(b) Require the aviation program to use all moneys distributed to the aviation program pursuant to the partnership contract to issue direct aviation training scholarships to Kentucky students enrolled in the aviation program;(c) If applicable to an aviation program, require that the aviation training scholarship application process encourage applicants to complete the Free Application for Federal Student Aid; and(d) Meet all other requirements set forth in this section and administrative regulations, including but not limited to any reporting requirements to the council.(4) Disbursements of moneys from the fund to support aviation training scholarships shall be made directly to an aviation program pursuant to the terms of the partnership contract.(5) An aviation program that enters a partnership contract shall solicit, accept, and review aviation training scholarship applications submitted by students enrolled in the aviation program. A partnership contract may require that an aviation program do so in collaboration with the aviation industry partner. The aviation program shall award aviation training scholarships pursuant to any scholarship criteria set forth in the partnership contract, this section, and administrative regulations. The decisions of the aviation program in the issuance of scholarships shall be final.(6) An aviation training scholarship issued by an aviation program pursuant to a partnership contract shall be made directly to a recipient pursuant to a written scholarship contract between the recipient and the aviation program. The scholarship contract shall not restrict the recipient's ability to utilize the scholarship for the total cost of attendance. Each recipient of a scholarship shall:(a) Agree in the written contract to be employed within Kentucky's aviation industry for a contract period of one (1) year for each academic year funded by the scholarship, up to a maximum of two (2) total years; and(b) Sign a promissory note as evidence of the scholarship and the obligation to repay the scholarship amount upon failure to complete terms of the contract.(7) A grantor may place restrictions upon a contribution to the fund requiring specific criteria for an aviation training scholarship or scholarships funded by the grantor's dedicated moneys, including but not limited to criteria restricting employment at the aviation industry partner for the contract period.(8) The aviation training scholarship contract shall grant the aviation program, the Commonwealth, or the aviation industry partner the authority to initiate recoupment proceedings for the recovery of the total amount of all aviation training scholarships awarded to an individual that fails to complete the terms of a contract entered into in accordance with subsection (6) of this section, together with reasonable attorney fees and interest at a compound rate not to exceed eight percent (8%) per annum from the date of disbursement from the fund.Added by 2024 Ky. Acts ch. 109,§ 3, eff. 4/5/2024.