Section 164.7019 - Annual report(1) By December 1 of each year, the council shall collaborate with the advisory committee to submit a written report to the Legislative Research Commission for referral to the Interim Joint Committee on Education, the Interim Joint Committee on Transportation, and the Interim Joint Committee on Appropriations and Revenue Budget Review Subcommittee on Education. The report shall include: (a) A detailed summary of the council's costs throughout the year;(b) Legislative recommendations to help grow and strengthen the education and training pipeline of aviation professions within Kentucky;(c) A detailed overview of the Kentucky aerospace, aviation, and defense investment fund, including an accounting of all moneys raised and expended;(d) A detailed analysis of aviation training scholarships awarded pursuant to KRS 164.7015, including but not limited to: 1. The criteria used to award the scholarships;2. The number of scholarships awarded and the amount of each scholarship;3. An overview of the demographic information of scholarship recipients, including the county of residence;4. The names of the aviation programs with scholarship recipients and the type of eligible aviation credential corresponding to each program; and5. To the extent available, student and program outcomes, including but not limited to: a. Graduation rates of the aviation program overall and of scholarship recipients as compared to an established baseline within any such program;b. Employment and employment retention rates of the aviation program overall and scholarship recipients; andc. The workforce participation of program graduates practicing in Kentucky under an eligible aviation credential in relation to the workforce demand and capacity for that specific eligible aviation credential; and(e) A detailed analysis of aviation equipment partnership contracts awarded pursuant to KRS 164.7017, including but not limited to the following for each aviation equipment partnership contract:1. The amount of the aviation equipment grant;2. The public aviation program that is a party to the partnership contract and the eligible aviation credential corresponding to that program;3. The aviation industry partner or partners that are a party to the partnership contract and the amount contributed by each aviation industry partner to the fund;4. A detailed summary of the aviation or aviation equipment maintained, acquired, or leased by the public aviation program with moneys from the aviation equipment grant;5. Financial documentation of all transactions utilizing moneys from the aviation equipment grant; and6. A detailed summary of how the aviation equipment grant will impact the opportunities and outcomes for students enrolled in public aviation program.(2) If the report required by subsection (1) of this section is not filed by December 14 of each year, or a later date jointly approved by the Interim Joint Committee on Education and the Interim Joint Committee on Transportation, any appropriations to the fund shall be forfeited and any remaining moneys in the fund appropriated by the General Assembly shall lapse to the general fund. The council shall return any remaining private moneys to its grantor, prorated as necessary.Added by 2024 Ky. Acts ch. 109,§ 5, eff. 4/5/2024.