114th General Assembly

HB1403

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.

Tennessee HB1403 authorizes the state to issue bonds and notes for higher education capital outlay, maintenance, and infrastructure improvements.

Tennessee HB1403 allows the state to issue bonds and notes up to $30 million for capital outlay and maintenance at institutions of higher education. The funding board can also issue notes for funding discounts and issuance costs. The bonds and notes are exempt from state and local taxes except for inheritance, transfer, and estate taxes. The act ensures compliance with the Civil Rights Act of 1964 and takes effect immediately upon becoming law.

Included in complete analysis

Overview
Core Provisions
Implementation
Impact
Legal Framework
Critical Issues

Analyze for Free

See what it does, who it affects, and the critical issues in plain language. Free, 30 seconds.

Where it stands

Current: In committee
Next: Session adjourned — paused until it reconvenes

History

HB1403

HB1403

Where it stands

Sponsors

History

HB1403

Where it stands

Sponsors

History