76-775. Same; earnings equivalent awards; faculty of distinction program fund; transfers from state general fund; limitations. (a) Subject to the other provisions of this act, on the first day of the first state fiscal year commencing after receiving a certification of receipt of a qualifying gift under K.S.A. 76-774, and amendments thereto, the director of accounts and reports shall transfer from the state general fund the amount determined by the director of accounts and reports to be the earnings equivalent award for such qualifying gift for the period of time between the date of certification of the qualifying gift and the first day of the ensuing state fiscal year to either: (1) The endowed professorship account of the faculty of distinction matching fund of the eligible educational institution, in the case of a certification of a qualifying gift to an eligible educational institution that is a state educational institution; or (2) the faculty of distinction program fund of the state board of regents, in the case of a certification of a qualifying gift to an eligible institution that is not a state educational institution. Subject to the other provisions of this act, on each July 1 thereafter, the director of accounts and reports shall make such transfer from the state general fund of the earnings equivalent award for such qualifying gift for the period of the preceding state fiscal year. All transfers made in accordance with the provisions of this subsection shall be considered demand transfers from the state general fund, except that all such transfers during the fiscal years ending June 30, 2021, June 30, 2022, and June 30, 2023, shall be considered to be revenue transfers from the state general fund.
(b) There is hereby established in the state treasury the faculty of distinction program fund, which shall be administered by the state board of regents. All moneys transferred under this section to the faculty of distinction program fund of the state board of regents shall be paid to eligible educational institutions that are not state educational institutions for earnings equivalent awards for qualifying gifts to such eligible educational institutions. The state board of regents shall pay from the faculty of distinction program fund the amount of each such transfer to the eligible educational institution for the earnings equivalent award for which such transfer was made under this section.
(c) The earnings equivalent award for an endowed professorship shall be determined by the director of accounts and reports and shall be the amount of interest earnings that the amount of the qualifying gift certified by the state board of regents would have earned at the average net earnings rate of the pooled money investment board portfolio for the period for which the determination is being made.
(d) The total amount of new qualifying gifts that may be certified to the director of accounts and reports under this act during any state fiscal year for all eligible educational institutions shall not exceed $30,000,000. The total amount of new qualifying gifts that may be certified to the director of accounts and reports under this act during any state fiscal year for any individual eligible educational institution shall not exceed $10,000,000. No additional qualifying gifts shall be certified by the state board of regents under this act when the total of all transfers from the state general fund for earnings equivalent awards for qualifying gifts pursuant to this section, and amendments thereto, for a fiscal year is equal to or greater than $8,000,000 in fiscal year 2011 and in each fiscal year thereafter.
History: L. 2000, ch. 90, § 3; L. 2003, ch. 138, § 125; L. 2004, ch. 123, § 171; L. 2005, ch. 174, § 181; L. 2006, ch. 142, § 159; L. 2008, ch. 141, § 2; L. 2010, ch. 165, § 147; L. 2011, ch. 118, § 182; L. 2012, ch. 175, § 158; L. 2013, ch. 136, § 271; L. 2015, ch. 104, § 241; L. 2017, ch. 104, § 236; L. 2019, ch. 68, § 175; L. 2020, ch. 5, § 165; L. 2021, ch. 98, § 183; May 17.
Structure Kansas Statutes
Chapter 76 - State Institutions And Agencies; Historical Property
Article 7 - State Educational Institutions; Management And Operation
76-714 Chief executive officers; titles; appointment; compensation.
76-715 Appointment of employees; compensation.
76-715a Conversion of certain employees to the unclassified service.
76-715b Leave time for classified employees of state education institutions, authorization.
76-716 Determination of programs offered and degrees to be granted.
76-717a Report to legislature.
76-717b Entitlement to admission to state educational institutions; requirements.
76-718 Dedication of certain moneys.
76-719a Fellowships and scholarships for graduate students; legislative declaration.
76-722 Holding property and executing trusts.
76-723 Federal funds; application for, receipt, deposit and expenditure.
76-724 Private grants and bequests.
76-725 Administration of state educational institutions; delegation of authority.
76-727 Recruitment of personnel; payment of certain expenses authorized.
76-730 Same; rules and regulations for criteria and guidelines; student residence committees.
76-731 Certain American Indians deemed residents of state for purpose of tuition and fees.
76-733 Same; investment of funds; administrative expenses; credits to subsidiary accounts.
76-734 Same; nonliability of state or agencies thereof.
76-738 Refunds of tuition, fees or charges by institutions under state board of regents.
76-740 Same; reimbursement for certain costs; federal guidelines.
76-742 Student fees for debt service on academic or health facilities, prior referendum required.
76-749 Insurance for study abroad programs, contracts.
76-750 Accident and health insurance, women's intercollegiate athletics.
76-751 Sponsored research at state educational institutions; definition.
76-752 Same; project contracts; authorized expenditures, when; bidding and other exemptions.
76-754 Service clearing funds; definition.
76-755 Same; authorized uses; approval of additional activities; accounting procedures.
76-761 Housing system; creation and operation; rents and fees.
76-761a Student housing; meningitis vaccination.
76-763 Same; housing properties; acquisition of sites and buildings.
76-765 Same; bonds outstanding on project; effect.
76-766 Same; "state education institution" defined.
76-767 Center for innovative school leadership; duties.
76-768 Use of social security number prohibited, when.
76-773 Kansas partnership for faculty of distinction program; definitions.
76-777 University research and development enhancement act; citation of act.
76-780 General powers, duties and functions of state board of regents.
76-782 Research and development facility projects authorized.
76-784 Sales and use tax exemptions, purchases for research and development facility projects.
76-787 Contracts for certain research and development facilities, provisions for prevailing wages.
76-790 Privately-financed buildings; maintenance costs.
76-791 Payment of bonds from contributions qualifying as tax credit, limitation.
76-7,101 Long-term infrastructure maintenance program.
76-7,103 Same; administration of program; reports; building inventory and space utilization.
76-7,104 Same; infrastructure maintenance fund.
76-7,106 Same; transfers of moneys from statewide maintenance and disaster relief fund.
76-7,107 Long-term infrastructure maintenance program; transfers of moneys from state general fund.
76-7,116 Infrastructure finance program.
76-7,118 Same; administration of program; reports.
76-7,119 Same; bonds not a state obligation.
76-7,120 Same; bonds; limitations; loan agreements.
76-7,125 State educational institution project delivery construction procurement act; citation.
76-7,127 Same; projects financed with non-state moneys; exempt from certain statutory requirements.
76-7,128 Same; contracts; bids; duties of state board and institutions.
76-7,129 Same; contracts, change orders.
76-7,130 Same; local building codes, fees, building permits and zoning requirements, exemptions.
76-7,133 Same; rules and regulations.
76-7,137 University engineering initiative act; purpose.
76-7,141 Kan-grow engineering funds, state educational institutions; purposes.
76-7,142 Sales tax exemption, expenditures for engineering initiative facilities.
76-7,143 Liberal construction of act.
76-7,151 Expenditure of state moneys; limitations; remedial courses.