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SENATE BILL 2480
By Bowling
HOUSE BILL 2375
By Doggett
HB2375
011694
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AN ACT to amend Tennessee Code Annotated, Title 4;
Title 5; Title 6; Title 7; Title 9 and Title 67, relative
to funding for rural counties.
BE IT ENACTED BY THE GENERAL ASSEMBLY OF THE STATE OF TENNESSEE:
SECTION 1. Tennessee Code Annotated, Title 9, Chapter 4, Part 2, is amended by
adding the following as a new section:
9-4-217.
(a) This section is known and may be cited as the "Greenbelt Initiative Fund
Transfer (GIFT) Act."
(b) There is created within the state general fund a special account to be known
as the rural revenue equity fund, referred to in this section as the "fund."
(c) It is the general assembly's intent that the fund consists of a recurring
appropriation of two hundred ten million dollars ($210,000,000) from the general fund.
(d) The commissioner of economic and community development shall administer
the fund, and moneys deposited in the fund must be used only to administer the fund
and implement the purposes set forth in this section.
(e) There must be allocated and distributed to the rural counties an amount from
the fund based on the county's total weighted score determined according to the formula
described in subdivision (g)(5). The commissioner of economic and community
development shall prioritize awarding funds to rural counties with the highest total
weighted scores.
(f) Monies from the fund may be used by rural counties only for:
(1) Capital improvement projects;
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(2) Infrastructure projects;
(3) Law enforcement purposes;
(4) Firefighter and emergency medical services; or
(5) Property tax stabilization.
(g)
(1) To receive an allocation and distribution of monies from the fund, a
rural county must submit a completed application to the commissioner of
economic and community development together with an application fee in an
amount established by the department of economic and community
development. The proceeds from the application fee must be retained by the
department, deposited in the fund, and used for defraying the department's
expenses in administering and implementing this section. The application and
procedures for submitting the application must be developed by the department.
(2) The application must include, but not be limited to, information
pertaining to the categories listed in subdivision (g)(3).
(3)
(A) Applications must be evaluated and scored on the basis of the
following categories:
(i) Total acres of land in the county under a greenbelt
classification;
(ii) Annual agricultural sales or taxable agricultural receipts
generated in the county;
(iii) Percentage of total land in the county under a
greenbelt classification;
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(iv) Whether the county has statutory authority to levy a
development tax or impact fee;
(v) The number and economic output of licensed livestock
or dairy farms in the county;
(vi) County population; and
(vii) Whether the county adopted a property tax increase
during the prior five (5) fiscal years.
(B) Higher scores must be assigned to applicants that:
(i) Have greater numbers of acres of land under a
greenbelt classification;
(ii) Have greater percentages of land under a greenbelt
classification;
(iii) Have higher annual agricultural sales or taxable
agricultural receipts;
(iv) Lack statutory authority to levy development taxes or
impact fees;
(v) Have smaller populations; or
(vi) Have adopted a property tax increase.
(4) Each category must be assigned a score ranging from zero (0) to one
hundred (100) and a weighted value. The weighted value is determined by
multiplying the score by a weighting factor. The weighting factors for each
category are given in the following table:
Category Weighting Factor
Total acreage under greenbelt classification 0.25
Annual agricultural sales or taxable agricultural receipts 0.20
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Percentage of total county land under greenbelt classification 0.15
Lacks statutory authority to levy development taxes or impact fees 0.15
Number and economic output of licensed livestock or dairy farms 0.10
Total population 0.08
Adopted property tax increase 0.07
(5) A county's total weighted score equals the sum of all weighted values.
(h) In addition to appropriations made to the fund, the commissioner of economic
and community development may accept other funds, public or private, by way of gift or
grant to the fund. Any such gift or grant must be deposited into the fund to be expended
in accordance with this section.
(i) The state treasurer shall invest moneys in the fund for the benefit of the fund
in accordance with § 9-4-603. Interest accruing on investments and deposits of the fund
must be credited to and remain part of the fund.
(j) Any unencumbered moneys and any unexpended balance of the fund
remaining at the end of a fiscal year do not revert to the general fund, but must be
carried forward until expended in accordance with this section. No part of the fund shall
be diverted to the general fund or any other public fund.
(k) All expenditures from the fund are subject to review in the form of an annual
report submitted by the commissioner of economic and community development to the
governor; the speaker and chief clerk of the senate; the speaker and chief clerk of the
house of representatives; the chair of the finance, ways and means committee of the
senate; the chair of the committee of the house of representatives having jurisdiction
over tax matters; and the directors of the office of legislative budget analysis.
(l) As used in this section:
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(1) "Greenbelt classification" means, in regard to land, land classified by
the assessor of property as agricultural, forest, or open space land under title 67,
chapter 5, part 10;
(2) "Infrastructure":
(A) Means the basic network of public utilities and access
facilities that support and promote land development; and
(B) Includes water and sewerage system elements, storm
drainage systems, roads, bridges, streets, and highways, public
transportation, pedestrian and bicycle facilities, railroads, gas and electric
transmission lines, telecommunications networks, solid waste disposal
sites, and similar public facilities; and
(3) "Rural county" means a county that is not included within a
metropolitan statistical area, as defined by the federal office of management and
budget.
SECTION 2. This act takes effect upon becoming a law, the public welfare requiring it.