§ 58-2-905 — Administration and rulemaking

(a) The agency shall administer the fund. (b) The agency shall adopt rules and regulations for the fund's administration in accordance with the Uniform Administrative Procedures Act, compiled in title 4, chapter 5. The rules must implement the requirements of the STORM Act and establish application procedures and eligibility criteria for loans from the fund. For loans, the rules establishing eligibility criteria must include that an eligible recipient demonstrate: (1) The need for a loan to address hazard mitigation; and (2) The ability to repay the loan, if required, at a later date. (c) The agency has such other authority as is necessary and appropriate for the exercise of the powers and duties conferred by this part. (d) The agency may pay the administrative expenses and costs associated with the fund, as authorized by the STORM Act. (e) The agency shall publicly publish and periodically update information about all projects receiving funding from the fund, including: (1) The location of the project; (2) The type and amount of assistance provided from the fund; (3) The expected funding schedule; and (4) The anticipated date of completion of the project.

Legislative History

Added by 2024 Tenn. Acts, ch. 686,s 1, eff. 7/1/2024.