Tennessee 2025-2026 Regular Session

Tennessee House Bill HB6003 Compare Versions

Only one version of the bill is available at this time.

Old	New	Differences
1	1
2	2	SENATE BILL 6003
3	3	By Johnson
4	4
5	5	HOUSE BILL 6003
6	6	By Lamberth
7	7
8	8
9	9	HB6003
10	10	001503
11	11	- 1 -
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13	13	AN ACT to amend Tennessee Code Annotated, Title 9,
14	14	Chapter 4, Part 2, relative to disaster relief funds.
15	15
16	16	BE IT ENACTED BY THE GENERAL ASSEMBLY OF THE STATE OF TENNESSEE:
17	17	SECTION 1. Tennessee Code Annotated, Title 9, Chapter 4, Part 2, is amended by
18	18	adding the following new sections:
19	19	9-4-215. Hurricane Helene interest payment fund.
20	20	(a) There is created a fund within the state treasury to be known as the
21	21	Hurricane Helene interest payment fund. The fund consists of grants, appropriations by
22	22	the general assembly, federal funds, to the extent permitted by federal law and
23	23	regulation, and any other moneys made available to the Tennessee emergency
24	24	management agency for the purposes of such fund from any other source or sources.
25	25	Moneys deposited in the fund must be invested for the benefit of the fund pursuant to §
26	26	9-4-603. Moneys in the fund must not revert to the general fund, but must remain
27	27	available to be used by the Tennessee emergency management agency exclusively for
28	28	the purpose specified in subsection (b). The commissioner of finance and administration
29	29	may promulgate rules in accordance with the Uniform Administrative Procedures Act,
30	30	compiled in title 4, chapter 5, in order to ensure the funds are received and expended for
31	31	the purposes consistent with subsection (b).
32	32	(b) The purpose of the Hurricane Helene interest payment fund is to pay local
33	33	governments' interest costs for up to three (3) years on money borrowed to pay eligible
34	34	disaster recovery costs related to Hurricane Helene; provided, that moneys from the
35	35	fund must only pay interest costs up to five percent (5%) or the prime interest rate,
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40	40	whichever is lower; and provided further, that the local government is located in a county
41	41	that was included in the federal disaster declaration resulting from Hurricane Helene.
42	42	9-4-216. Governor's response and recovery fund.
43	43	(a) There is created a fund within the state treasury to be known as the
44	44	governor's response and recovery fund. The fund consists of grants, appropriations by
45	45	the general assembly, loan repayments, federal funds, to the extent permitted by federal
46	46	law and regulation, and any other moneys made available to the Tennessee emergency
47	47	management agency for the purposes of such fund from any other source or sources.
48	48	Moneys deposited in the fund must be invested for the benefit of the fund pursuant to §
49	49	9-4-603; provided, however, that some or all interest earnings may be transferred to the
50	50	Hurricane Helene interest payment fund created pursuant to § 9-4-215. Moneys in the
51	51	governor's response and recovery fund must not revert to the general fund but must
52	52	remain available to be used by the Tennessee emergency management agency
53	53	exclusively for the purposes specified in subsection (b). The commissioner of finance
54	54	and administration may promulgate rules in accordance with the Uniform Administrative
55	55	Procedures Act, compiled in title 4, chapter 5, in order to ensure the funds are received
56	56	and expended for the purposes consistent with subsection (b).
57	57	(b) The purpose of the governor's response and recovery fund is to respond to,
58	58	or recover from, an emergency, as defined in § 58-2-101, including, but not limited to,
59	59	the following:
60	60	(1) Agricultural recovery efforts related to an emergency;
61	61	(2) Unemployment assistance related to an emergency; and
62	62	(3) Business recovery assistance related to an emergency.
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67	67	(c) Moneys must only be expended in response to Hurricane Helene or another
68	68	event for which the governor declares a state of emergency or disaster declaration
69	69	pursuant to § 58-2-107(b)(1)(A).
70	70	(d) The Tennessee emergency management agency may expend moneys in the
71	71	fund in the form of grants or loans to third parties. Loan repayments must become part
72	72	of the fund and remain available for the purposes described in subsection (b).
73	73	(e) At least annually, the Tennessee emergency management agency shall
74	74	submit to the chair of the finance, ways and means committee of the senate and the
75	75	chair of the committee in the house of representatives having jurisdiction over matters
76	76	related to public funds a report stating the amount expended from the fund in the past
77	77	year, the purposes for which the money was expended, and the amount remaining in the
78	78	fund.
79	79	SECTION 2. The headings in this act are for reference purposes only and do not
80	80	constitute a part of the law enacted by this act. However, the Tennessee Code Commission is
81	81	requested to include the headings in any compilation or publication containing this act.
82	82	SECTION 3. This act takes effect upon becoming a law, the public welfare requiring it.