Section 0500-02-03-.03 - ALLOCATION PLAN(1) The Commissioner shall, prior to January 1 of each year, announce the system by which allocations are to be made during the ensuing calendar year. This system shall give effect to the following objectives: (a) Consider the economic needs of the State including job creation, potential increase in the local and state tax revenue, and the availability of affordable and safe housing for citizens in the state;(b) Provide a mechanism for evaluating requests for debt authority in order to ensure fairness of access to all areas of the state as well as maximizing the economic benefit; and(c) Provide for reporting of use of bond authority and a schedule for recapture and reallocation of unused bond authority for purposes of carry forward elections by entities having authority to make such elections.(2) The allocation system shall provide for distribution of authority to issue tax exempt bonds, subject to recapture and reallocation as provided above.Tenn. Comp. R. & Regs. 0500-02-03-.03
Original rule filed October 28, 1988; effective January 29, 1989. Amendment filed August 30, 1996; effective December 27, 1996.Authority: T.C.A. § 9-20-104.