Section 1700-05-03-.04 - REJECTION OF APPLICATION OR FORFEITURE OF MATCHING CONTRIBUTION(1) Rejection of Application. An application for a Matching contribution will be rejected by the Board if any of the following occurs:(a) The Purchaser fails to provide all the information required in Rulel 700-05-03-.03;(b) The Purchaser fails to meet the eligibility requirements to participate in the Matching grant incentive program as provided in Rule 1700-05-03-.02.(c) The Purchaser makes a misrepresentation in the application for the Matching contributions; or(d) The requisite Minimum contribution was not made to the Account during the Qualifying period.(2) Forfeiture of Matching Contribution. If, at any time, the Board determines that a Purchaser made a misrepresentation in an application for a Matching contribution that resulted in a Matching contribution being made to an Account, the Matching contribution will be forfeited and returned to the Board.(3) Applications Made in Subsequent Qualifying Periods. Rejection of an application for a Matching contribution shall not preclude the Purchaser from reapplying for a Matching contribution in subsequent Qualifying periods, provided the Purchaser completes a new application and files the same with the Board during the applicable Qualifying period. Notwithstanding this Rule, the Board may, at its discretion, reject any application made by a Purchaser who was found to have made a misrepresentation on an application submitted by the Purchaser in a previous year.Tenn. Comp. R. & Regs. 1700-05-03-.04
Original rule filed October 1, 2010; effective March 31, 2011. Amendment filed April 11, 2014; effective 9/28/2014.Authority: Chapter 359 of the 2013 Public Acts codified in T.C.A. § 49-7-808(d), § 49-7-805 and § 65-5-113(c), and T.C.A. §§ 49-7-805(16), and 49-7-805(4).