65-7406. Primary care safety net clinic loan guarantee fund; administration.
65-7406
65-7406. Primary care safety net clinic loanguarantee fund; administration.(a) Subject to appropriations there is hereby establishedthe primary care safety netclinic loan guarantee fund in the state treasury for the purposes offacilitating the financing for the acquisition and modernization of primarycare safety net clinics in Kansas and the refinancing of capital improvementsand acquisition and installation of equipment therefor. The primary care safetynet clinic loan guarantee fund shall be administered by the secretary. Allmoneys in the primary care safety net clinic loan guarantee fund shall be usedto provide guarantees against capital loan risks in accordance with this actand to pay for the administrative costs associated with the act as may becertified by the secretary.All expenditures from the primary care safety net clinic loan guarantee fundshall be made in accordance with appropriations acts upon warrants of thedirector of accounts and reports issued pursuant to vouchers approved by thesecretary or the secretary's designee.
(b) All fees and charges imposed by the secretary and other moneys receivedby the secretary for the purposes of this act shallbe remitted to the state treasurer in accordance with the provisions of K.S.A.75-4215, and amendments thereto. Upon receipt of each such remittance, thestate treasurer shall deposit the entire amount in the state treasury to thecredit of the primary care safety net clinic loan guarantee fund.
(c) Upon certification by the secretary to the director of accounts andreports that the unencumbered balance in the primary care safety net clinicloan guarantee fund is insufficient to pay an amount for a loan guarantee forwhich the fund is liable under this act, the director of accounts and reportsshall transfer an amount equal to the insufficiency from the state general fundto the primary care safety net clinic loan guarantee fund. The secretary shalltransmit a copy of each such certification to the director of the budget and tothe director of legislative research at the same time that the secretarysubmits a certification to the director of accounts and reports under thissubsection.
(d) On or before the 10th of each month, the director of accounts and reportsshall transfer from the state general fund to the primary care safety netclinic loan guarantee fund interest earnings based on:
(1) The average daily balance of moneys in the Kansas export loan guaranteefund for the preceding month; and
(2) the net earnings rate of the pooled money investment portfolio for thepreceding month.
History: L. 2007, ch. 177, § 10; May 17.