154.20-415 Kentucky Alternative Fuel and Renewable Energy Fund Program -- Purpose. (1) There is created in the cabinet a Kentucky Alternative Fuel and Renewable Energy Fund Program to provide funding to Kentucky-based companies to undertake research and development and commercialization work in the area of alternative fuels and renewable energy. (2) The purpose of the program is to: (a) Accelerate knowledge improve economic competitiveness, and spur economic growth of Kentucky-based companies involved in the areas of alternative fuels or renewable energy; technological transfer and innovation, (b) Support research and development activities that have clear potential to lead to commercially successful products, processes, or services in the areas of alternative fuels or renewable energy within a reasonable period of time; (c) Stimulate growth-oriented alternative fuels and renewable energy enterprises within the Commonwealth; (d) Encourage partnerships and collaborative projects between private enterprises, Kentucky's public and private colleges and universities, and research organizations in alternative fuels and renewable energy; and (e) Promote research and development and commercialization activities in alternative fuels and renewable energy that are market-oriented. Effective: June 25, 2013 History: Amended 2013 Ky. Acts ch. 116, sec. 7, effective June 25, 2013. -- Created 2007 (2d Extra. Sess.) Ky. Acts ch. 1, sec. 48, effective August 30, 2007.