Tennessee HB1516 amends municipal budget laws to allow a continuing operating budget for the first two months of the fiscal year and potentially the.
Tennessee HB1516 amends municipal budget laws to allow a continuing operating budget for the first two months of the fiscal year and potentially the third month with approval from the comptroller of the treasury. If the municipal legislative body and the governing body of the LEA fail to agree on a budget by August 31, the LEA budget defaults to the minimum required to comply with the TISA. If this failure occurs for three consecutive fiscal years, the LEA budget must include a mandatory increase equivalent to three percent of the required funding from local sources for schools.
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- Overview
- Core Provisions
- Implementation
- Impact
- Legal Framework
- Critical Issues
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