The Pediatric Cancer Research Trust Fund Board created by KRS 211.596 shall: (1) Develop a written plan for the expenditure of trust funds made available under KRS 211.595. The initial plan shall be completed on or before October 1, 2015, and shall be updated on an annual basis on or before October 1 of each year thereafter. The plan shall, at a minimum, include the following: (a) A summary of existing pediatric cancer research, awareness, treatment, and funding programs provided to children of Kentucky; (b) A needs assessment for the pediatric cancer patients of the Commonwealth of Kentucky that identifies additional research funding needs by cancer type and geographic area, with support for why the identified programs are needed; and (c) A prioritized list of programs and research projects that the board will address with funding available through the competitive grant program established under subsection (2) of this section; (2) (a) Promulgate administrative regulations to establish a competitive, open gra nt program to provide funding to not -for-profit entities, academic medical centers and government agencies offering research funding and treatment for pediatric cancer to Kentucky children impacted by the disease. (b) The grant program shall provide fundin g to research projects and programs in accordance with the priorities established in the plan developed under subsection (1) of this section. (c) The administrative regulations shall, at a minimum: 1. Establish an application process and requirements; 2. Set forth program and outcome measurement requirements; 3. Establish an application review and award process; and 4. Provide monitoring, oversight, and reporting requirements for funded programs; (3) Promulgate administrative regulations necessary to carry out the provisions of this section and KRS 211.596; and (4) Provide to the Governor and the Legislative Research Commission an annual report by October 1 of each year. The report shall include: 1. The plan developed under subsection (1) of this section for the expenditure of funds for the current and next fiscal year; 2. A summary of the use and impact of prior year funds; 3. A summary of the activities of the board during the prior fiscal year; and 4. Any recommendations for future initiatives or action regarding pediatric cancer research funding.
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