Ineligible Individuals

(1) For the first fiscal year that the Matching grant incentive program is in operation, the following individuals shall not be eligible to receive Matching contributions as either a Purchaser or a Beneficiary: Tennessee Department of Treasury employees; members of the Board, or an immediate family member of any of the foregoing. For purposes of this rule, an “immediate family member” means a parent, spouse, sibling, child, stepchild or grandchild. For each subsequent fiscal year, the Board shall determine whether the total amount of money available for the fiscal year will be sufficient to allow the individuals listed in this rule to receive a Matching contribution.