(a) Notwithstanding this title or title 4, chapter 29 to the contrary, if a state university board ceases to exist in accordance with the Tennessee Governmental Entity Review Law, compiled in title 4, chapter 29, or if a state university board is vacated by an act of the general assembly that does not provide for the simultaneous reconstitution of the state university board, then the management, governance, powers, and duties of the state university board are transferred to the Tennessee higher education commission at 11 :59 p.m. on June 29 of the year in which the state university board ceases to exist pursuant to title 4, chapter 29, or one (1) minute prior to the effective date of an act of the general assembly vacating the state university board, if the act does not provide for the simultaneous reconstitution of the state university board, as applicable.(b) Notwithstanding this title or title 4, chapter 29 to the contrary, the commission shall exercise the management and governance functions, and execute and assume the powers and duties, of a state university board as provided in this title, for a state university whose local governing board of trustees ceases to exist pursuant to the Tennessee Governmental Entity Review Law, compiled in title 4, chapter 29, or for a state university whose local governing board of trustees is vacated by an act of the general assembly that does not provide for the simultaneous reconstitution of the state university board.(c)(1) The commission shall not exercise or perform one (1) or more of the commission's powers or duties as prescribed in § 49-7-202 for a state university for which the commission is serving as the state university board pursuant to this section with regard to the state university's academic programs, capital projects, or operating budget requests, if the commission has previously acted on the matter in the commission's role as the state university board.(2) In order to avoid any conflicts of interest, the commission shall delegate to the commission's executive director one (1) or more of the commission's powers or duties as prescribed in § 49-7-202 with regard to the academic programs, capital projects, or operating budget requests for a state university for which the commission is serving as the state university board, and for which the commission has previously acted in the commission's role as the state university board. Notwithstanding another law to the contrary, the executive director is authorized to perform the delegated power or duty on behalf of the commission for the respective state university and any action taken by the executive director pursuant to such a delegation has the same force and effect as if the action were taken by the commission.(3) The executive director shall, at the next scheduled commission meeting, present all information related to the executive director's performance of a power or duty delegated to the executive director under this subsection (c).(d) This section does not alter, invalidate, or otherwise terminate any contracts, holdings, or interests of a state university.Added by 2024 Tenn. Acts, ch. 848,s 1, eff. 5/1/2024.