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Current as of January 02, 2024 | Updated by Findlaw Staff
(a) There is hereby created and established a housing program fund to be administered by the agency and to consist of the following:
(1) Moneys transferred from the assets fund; and
(2) Such allocation of federal block grant or other federal funds as may be available and properly directed for housing programs.
(b) Notwithstanding subsection (a), for the fiscal year ending June 30, 1997, all allocations of tax revenues directed to the agency by former subdivisions (a)(2) and (3) in excess of six million dollars ($6,000,000) shall be reallocated to the state general fund; and, notwithstanding subsection (a), for the fiscal year ending June 30, 1998, all allocations of tax revenues directed to the agency by former subdivisions (a)(2) and (3) in excess of nine million dollars ($9,000,000) shall be reallocated to the state general fund. Thereafter, no such reallocation shall be made.
(c) Notwithstanding subsections (a) and (b), or any other provision of law to the contrary, for a period of one (1) year beginning with the fiscal year starting July 1, 1999, all allocations of tax revenues directed to the agency by former subdivisions (a)(2) and (3) shall be reallocated to the state general fund.
Cite this article: FindLaw.com - Tennessee Code Title 13. Public Planning and Housing § 13-23-402 - last updated January 02, 2024 | https://codes.findlaw.com/tn/title-13-public-planning-and-housing/tn-code-sect-13-23-402/
FindLaw Codes may not reflect the most recent version of the law in your jurisdiction. Please verify the status of the code you are researching with the state legislature before relying on it for your legal needs.
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