Tenn. Comp. R. & Regs. 0500-02-03-.02

Current through January 8, 2025

Section 0500-02-03-.02 - PURPOSE AND SCOPE

Under the provision of the Federal Tax Reform Act of 1986, each state is provided a unified volume limitation or cap covering certain tax-exempt bonds, known as private activity bonds. In order to fairly allocate this limited source of authority to fund certain governmental activities on a maximum utilization, the Commissioner will prepare a yearly allocation plan which meets the following goals:

(1) Provides equal access to the state bond authority for large cities, small towns and rural areas; and

(2) Provides the most benefit to the state from the bond authority available to it.

Tenn. Comp. R. & Regs. 0500-02-03-.02

Original rule filed October 28, 1988; effective January 29, 1989.

Authority: T.C.A. §§ 9-20-102, 9-20-103, 9-20-104.