0500-02-03-.03
Allocation Plan
Cite as Tenn. Comp. R. & Regs. 0500-02-03-.03
(1)
The Commissioner shall, prior to January 1 of each year, announce the system by which allocations are
to be made during the ensuing calendar year. This system shall give effect to the following objectives:
(a)
Consider the economic needs of the State including job creation, potential increase in the local
and state tax revenue, and the availability of affordable and safe housing for citizens in the
state;
(b)
Provide a mechanism for evaluating requests for debt authority in order to ensure fairness of
access to all areas of the state as well as maximizing the economic benefit; and
TENNESSEE ALLOCATION PLAN FOR PRIVATE ACTIVITY BONDS
CHAPTER 0500-2-3
(c)
Provide for reporting of use of bond authority and a schedule for recapture and reallocation of
unused bond authority for purposes of carry forward elections by entities having authority to
make such elections.
(2)
The allocation system shall provide for distribution of authority to issue tax exempt bonds, subject to
recapture and reallocation as provided above.