Bill > SB2454

This bill amends Tennessee Code Annotated, Title 9, which deals with the state's treasury and finance, to clarify how funds are appropriated for debt service payments, meaning the payments of interest and principal on borrowed money. Specifically, it allows certain airport authorities, such as regional and metropolitan airport authorities, to directly and continuously appropriate funds for the issuance of debt that is not a liability of the state, meaning the state is not responsible for repaying this debt if the authority defaults. This change ensures that these airport authorities can reliably make their debt service payments for an indefinite period of time, without needing separate legislative approval for each payment.