164.7917 Research challenge trust fund.

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164.7917 Research challenge trust fund. (1) (a) The research challenge trust fund created by KRS 164.7911 may include separate, subsidiary programs and related accounts, such as an Endowed <br>Professorship Matching Program, an Endowed Chairs Matching Program, an <br>External Research Grant Matching Program, a Graduate Assistant Program, a <br>Junior Faculty Research Encouragement Program, or other programs and <br>related accounts as determined through the biennial budget process for the <br>Council on Postsecondary Education. (b) Appropriations to the research challenge trust fund are to encourage research activities at the University of Kentucky and at the University of Louisville so <br>that these institutions may achieve the goals established in KRS 164.003(2). (c) Funds appropriated to the research challenge trust fund shall be apportioned two-thirds (2/3) to the University of Kentucky and one-third (1/3) to the <br>University of Louisville. (2) The Council on Postsecondary Education shall develop the criteria and process for submission of an application under this section. The evaluation of all applications <br>for support of specific faculty research projects, if such projects are included in the <br>university's plan for use of research trust funds, shall be subject to review and <br>ranking by an external panel of experts appointed according to guidelines and <br>procedures approved by the council in consultation with the University of Kentucky <br>and the University of Louisville. The University of Kentucky and the University of <br>Louisville may apply to the council for financial assistance from the research <br>challenge trust fund. The council shall determine the matching funds or internal <br>reallocation requirements from the applicants to qualify for funding. Financial <br>assistance that may be awarded by the council shall be consistent with the adopted <br>strategic agenda, the biennial budget process, and the availability of any resources <br>to the research challenge trust fund. Effective: May 30, 1997 <br>History: Created 1997 (1st Extra. Sess.) Ky. Acts ch. 1, sec. 10, effective May 30, 1997.