SENATE BILL 109
By Seal
HOUSE BILL 185
By Jones R
HB0185
000681
- 1 -
AN ACT to amend Tennessee Code Annotated, Title 6,
Chapter 56, Part 4, relative to contracted certified
municipal finance officers.
BE IT ENACTED BY THE GENERAL ASSEMBLY OF THE STATE OF TENNESSEE:
SECTION 1. Tennessee Code Annotated, Section 6-56-406(d), is amended by deleting
the subsection and substituting instead:
(d) Notwithstanding this section, a municipality may contract with a certified
public accountant to perform the duties of a CMFO. The contracted CMFO shall devote
a minimum of sixteen (16) hours per month to financial oversight on behalf of the
municipality, unless the municipality has sought and received written approval from the
comptroller of the treasury for its contracted CMFO to devote less than sixteen (16)
hours per month to financial oversight on behalf of the municipality. Such approvals are
valid for one (1) year. Municipalities must request a new approval from the comptroller
of the treasury each year.
SECTION 2. This act takes effect upon becoming a law, the public welfare requiring it.