Section 1670-05-01-.04 - APPROVAL AND FUNDS(1) The above mentioned documents must be sent to the Department of Tourist Development before any Organization can receive State Matching Funds. After review of the submitted documents by the Department of Tourist Development, the applying Organization will be notified of its eligibility to receive the applied for State Matching Funds.(2) An approved Organization must forward to the Department of Tourist Development the following:(a) The complete name and mailing address of Organization;(b) By Xerox, or another similar method, copies of checks received from the Organization's membership which are being used as local matching money, along with copies of deposit slips showing such funds as actually having been deposited in the Organization's account. Only those monies collected during the fiscal year for which the Organization is applying may be used as that Organization's matching money; and,(c) Minutes of at least two (2) meeting of the Board of Directors of the Organization will be held during a fiscal year with a quorum present.(3) The Chief Executive Officer of an approved Organization shall meet with representative(s) of the Department of Tourist Development at least semi-annually during a fiscal year for the purpose of reviewing marketing goals of an approved Organization.(4) In order for the applying Organization to be eligible to retain up to the entire $35,000.00 in State Matching Funds, said Organization must, during the fiscal year spend a total of $52,500.00 ($35,000.00 of State Matching Funds, $17,500.00 of Region-raised funds based on a ratio of $2.00 of State Matching Funds for every $1.00 of locally raised funds) on tourist promotions which may include use of up to forty percent (40%) of State Matching Funds for administrative expenses in the Region. If the Organization does not have sufficient local matching funds to request up to a total of $35,000.00 within a fiscal year period, then the appropriate amount of State Matching Funds will be retained by the Department of Tourist Development.(5) The final request for State Matching Funds in a fiscal year must be received by the Department of Tourist Development no later than May 31st of that fiscal year.(6) Upon receipt of a completed application for State Matching Funds, said application will be sent to the Commissioner of Tourist Development for recommendation and the Commissioner of Finance and Administration for approval and payment upon certification by the appropriate official of the applying Organization that Region-raised matching funds are available. State Matching Funds shall be distributed to the Organization on the basis of two dollars ($2.00) in State Matching Funds for each one dollar ($1.00) contributed by the membership or through donations to the applying Organization up to a maximum of thirty-five thousand dollars ($35,000.00) each fiscal year, according to the provisions of the law.Tenn. Comp. R. & Regs. 1670-05-01-.04
Original Rule filed June 1, 1976; effective July 1, 1976. Repeal and new rule filed August 27, 1979; effective October 10, 1979. Amendments filed June 3, 2016; effective 9/1/2016.Authority: T.C.A. §§ 4-346, 4-3-2201 et seq., 4-3-2206, 4-3-2207, and 4-5-201 et seq.