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Bill > SB1849
TN SB1849
TN SB1849AN ACT to authorize the state of Tennessee, acting by resolutions of its funding board, to issue and sell its bonds and bond anticipation notes to provide for acquisition of equipment and sites, and erection, construction, and equipment of sites and buildings, expressly including the acquisition of existing structures for expansion, improvements, betterments, and extraordinary repairs to existing structures, for construction of highways, and repair, replacement, or rehabilitation of bridges, and
summary
Introduced
01/20/2022
01/20/2022
In Committee
Crossed Over
Passed
Dead
04/28/2022
04/28/2022
Introduced Session
112th General Assembly
Bill Summary
AN ACT to authorize the state of Tennessee, acting by resolutions of its funding board, to issue and sell its bonds and bond anticipation notes to provide for acquisition of equipment and sites, and erection, construction, and equipment of sites and buildings, expressly including the acquisition of existing structures for expansion, improvements, betterments, and extraordinary repairs to existing structures, for construction of highways, and repair, replacement, or rehabilitation of bridges, and for grants to any county, metropolitan government, incorporated town, city, special district of the state, or any governmental agency or instrumentality of any of them; to make grants to industrial development corporations to provide for acquisition of equipment and acquisition, site preparation, erection, construction, and equipment of sites and buildings; and infrastructure improvements and development; and to provide for the expenditure of said funds; to issue its debt in excess of the authorized amount to fund discount and costs of issuance; and to provide for the expenditure of said funds. This act makes appropriations for an indefinite period of time for the purpose of allocating the proceeds of the bonds and notes authorized by this act.
AI Summary
This bill authorizes the state of Tennessee, acting through its funding board, to issue and sell bonds and bond anticipation notes up to $30 million to provide funding for the acquisition of equipment and sites, as well as the construction, expansion, and improvement of buildings, structures, and infrastructure, including highways and bridges. The bill specifies that the proceeds from these bonds must be allocated to the Tennessee Higher Education Commission for capital outlay and maintenance at institutions of higher education. The bill also allows the funding board to issue additional bonds of up to 2.5% of the authorized amounts to cover the costs of issuing the bonds.
Committee Categories
Budget and Finance
Sponsors (1)
Last Action
Action deferred in Senate Finance, Ways, and Means Committee to 4/26/2022 (on 04/20/2022)
bill text
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bill summary
| Document Type | Source Location | Created |
|---|---|---|
| State Bill Page | https://wapp.capitol.tn.gov/apps/Billinfo/default.aspx?BillNumber=SB1849&ga=112 | 01/21/2022 |
| Fiscal Note - HB1700 | https://www.capitol.tn.gov/Bills/112/Fiscal/HB1700.pdf | 01/22/2022 |
| BillText | https://www.capitol.tn.gov/Bills/112/Bill/SB1849.pdf | 01/21/2022 |
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