Tennessee SB1281 amends utility system management by requiring interest income from investments to be credited to a separate account and carried.
Tennessee SB1281 introduces a new subsection to Tennessee Code Annotated, Section 64-9-107, regarding utility system management. It mandates that interest income from investments and deposits must be credited to a separate account, cannot revert to the general fund, and must be carried forward into each subsequent fiscal year. This act takes effect immediately upon becoming law, as deemed necessary for public welfare.
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