Local corrections assistance fund -- Annual distributions to counties

(1) The local corrections assistance fund is created as a separate revolving fund to be administered by the department. The fund shall consist of amounts transferred to the fund pursuant to KRS 196.288, along with any other proceeds from grants, contributions, appropriations, or other moneys made available for purposes of the fund. (2) Notwithstanding KRS 45.229, amounts not expended at the close of a fiscal year shall not lapse but shall be carried forward to the next fiscal year. (3) Any interest earnings from the fund shall become a part of the fund and shall not lapse. (4) Moneys in the fund shall be distributed to the counties each year. Amounts distributed from the fund shall be used to support local correctional facilities and programs, including the transportation of prisoners, as follows: (a) In each fiscal year, the first three million dollars ($3,000,000) received by the fund, or, if the fund receives less than three million dollars ($3,000,000), the entire balance of the fund, shall be divided equally among all counties; and (b) Any moneys remaining after making the distributions required by paragraph (a) of this subsection shall be distributed to each county based on a ratio, the numerator of which shall be the county's county inmate population on the second Thursday in January during the prior fiscal year, and the denominator of which shall be the total counties' county inmate population for the entire state on the second Thursday in January during the prior fiscal year.