Tennessee § 4-41-105 [Effective until 7/1/2029] Go Build Account created

Tennessee Statutes

§ 4-41-105 — [Effective until 7/1/2029] Go Build Account created

(a)To fund the program, there is created within the state board for licensing contractors a Go Build Account, referred to in this chapter as "the account." Amounts remaining in the account at the end of each fiscal year shall not revert to the general fund. Money in the account shall be invested by the state treasurer pursuant to title 9, chapter 4, part 6, for the sole benefit of the account.

(b)A minimum of fifty percent (50%) of the total fiscal year fund balance resulting from contractor licensing revenue collected pursuant to title 62, chapter 6, part 1, after expenditures, shall be transferred by the board to the account, to be allocated to the corporation solely for the implementation, administration, and management of the program. This transfer shall occur on an annual basis in a

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(a) To fund the program, there is created within the state board for licensing contractors a Go Build Account, referred to in this chapter as "the account." Amounts remaining in the account at the end of each fiscal year shall not revert to the general fund. Money in the account shall be invested by the state treasurer pursuant to title 9, chapter 4, part 6, for the sole benefit of the account. (b) A minimum of fifty percent (50%) of the total fiscal year fund balance resulting from contractor licensing revenue collected pursuant to title 62, chapter 6, part 1, after expenditures, shall be transferred by the board to the account, to be allocated to the corporation solely for the implementation, administration, and management of the program. This transfer shall occur on an annual basis in accordance with § 4-41-107 . (c) The board, in consultation with the corporation, may promulgate rules in accordance with the Uniform Administrative Procedures Act, compiled in chapter 5 of this title, for disbursing the funds for the program, as necessary, pursuant to subsection (b). (d) There shall be participation and inclusion of the commissioner of labor and workforce development or the commissioner's designee in the board's administration and implementation of this chapter, including the provision of input from the commissioner or the commissioner's designee related to labor market information, safety and health, and the development of performance metrics consistent with industry growth indicators.

Tennessee § 4-41-105 ([Effective until 7/1/2029] Go Build Account created) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.