SB 419

Relating to Morgan County; to provide for the allocation and expenditure of money received from the Tennessee Valley Authority and distributed to Morgan County pursuant to Act 2010-135, 2010 Regular Session (Acts 2010, p. 190), for certain fiscal years; and to ratify and confirm any payments made pursuant to Act 2014-109 of the 2014 Regular Session (Acts 2014, p. 186).

Section 1

Notwithstanding any other provision of law, after the allocation of the proceeds pursuant to Act 2013-199 of the 2013 Regular Session, any remaining proceeds allocated to Morgan County pursuant to Act 2010-135, 2010 Regular Session (Acts 2010, p. 190), from the in-lieu-of-taxes payments made by the Tennessee Valley Authority shall be distributed as follows: (1) For the fiscal years beginning October 1, 2018, October 1, 2019, October 1, 2020, and October 1, 2021, the remaining proceeds up to a total of three hundred thirty thousand dollars ($330,000) each year shall be distributed to the Community Foundation of Greater Decatur, Inc., to be distributed by the community foundation based on recommendations for expenditure from the member representing each House of Representatives District and the Senate District comprised of territory in Morgan County as follows: The funds shall be divided into two shares, with one share to be expended in the Senate District and one share to be expended in the House of Representatives Districts based on the approximate population of each House of Representatives District in Morgan County as a percentage of the total population of Morgan County. (2) Any distributions pursuant to subdivision (1) shall be at the sole discretion of the Community Foundation of Greater Decatur, Inc. (3) After payment of the above distribution each year, any remainder shall be distributed each year to the Morgan County legislative delegation office.

Section 2

Any payments made pursuant to Act 2014-109 of the 2014 Regular Session (Acts 2014, p. 186) are ratified and confirmed.

Section 3

This act shall become effective immediately following its passage and approval by the Governor, or its otherwise becoming law.