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Bill > HB0147
TN HB0147
TN HB0147AN 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
01/11/2023
01/11/2023
In Committee
01/20/2023
01/20/2023
Crossed Over
Passed
Dead
04/25/2024
04/25/2024
Introduced Session
113th 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, through its funding board, to issue and sell general obligation bonds and bond anticipation notes up to $30 million. The proceeds from these bonds and notes will be used to fund capital outlay and maintenance for institutions of higher education in Tennessee. The bill also allows the funding board to issue additional bonds up to 2.5% of the authorized amount to cover the costs of issuing the bonds. The bill sets forth the terms and conditions for the issuance and sale of the bonds and notes, including their maturity, interest rates, and tax-exempt status. The bill also outlines the process for expending the funds and requires legislative appropriation for the first year's principal and interest payments before the bonds can be issued.
Committee Categories
Budget and Finance
Sponsors (1)
Last Action
Assigned to s/c Finance, Ways, and Means Subcommittee (on 01/24/2023)
Bill Topics
Education
- ‐ Higher Education
Macroeconomics
- ‐ National Budget and Debt
Transportation
- ‐ Infrastructure
bill text
bill summary
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bill summary
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bill summary
| Document Type | Source Location | Created |
|---|---|---|
| State Bill Page | https://wapp.capitol.tn.gov/apps/Billinfo/default.aspx?BillNumber=HB0147&ga=113 | 01/11/2023 |
| Fiscal Note - SB0117 | https://www.capitol.tn.gov/Bills/113/Fiscal/SB0117.pdf | 01/20/2023 |
| BillText | https://www.capitol.tn.gov/Bills/113/Bill/HB0147.pdf | 01/11/2023 |
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