Tennessee § 12-3-603 Regulations regarding cost principles

Tennessee Statutes

§ 12-3-603 — Regulations regarding cost principles

Tennessee § 12-3-603

Title12

This text of Tennessee § 12-3-603 (Regulations regarding cost principles) is published on Counsel Stack Legal Research, covering Tennessee primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Tenn. Code Ann. § 12-3-603 (2026).

Text

The chief procurement officer shall propose regulations for approval by the procurement commission setting forth cost principles which shall be used to determine the allowability of incurred costs for the purpose of reimbursing costs under contract provisions that provide for the reimbursement of costs; provided, that if a written determination is made by the chief procurement officer to justify such action, such cost principles may be modified by contract and reported to the comptroller of the treasury.

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The chief procurement officer shall propose regulations for approval by the procurement commission setting forth cost principles which shall be used to determine the allowability of incurred costs for the purpose of reimbursing costs under contract provisions that provide for the reimbursement of costs; provided, that if a written determination is made by the chief procurement officer to justify such action, such cost principles may be modified by contract and reported to the comptroller of the treasury.

Legislative History

Amended by 2013 Tenn. Acts, ch. 403,s 37, eff. 7/1/2013. Acts 1978, ch. 655, § 3; T.C.A., §§ 12-1103, 12-3-303; Acts 2008, ch. 717, §§ 6, 7; 2010, ch. 1098, § 2; 2011, ch. 295, §§ 5, 19.