114th General Assembly

SB2692

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; 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 SB2692 authorizes the state to issue bonds and notes for infrastructure projects and grants.

Tennessee SB2692 allows the state to issue bonds and notes to fund various infrastructure projects and grants. The proceeds will be allocated to the Department of Finance and Administration, the Department of Transportation, and industrial development corporations. Projects include highways, bridges, buildings, and equipment. The state can issue bonds up to $438 million and notes up to 2.5% of that amount for issuance costs. The bonds are exempt from state and local taxes except for inheritance, transfer, and estate taxes.

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SB2692

Tennessee SB2692 authorizes the state to issue bonds and notes for infrastructure projects and grants.

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.

SB2692

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SB2692

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SB2692

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SB2692

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History