Title 9, Public Finances

(a) Funds in the opioid abatement fund shall be spent only for the following purposes:(1) Prospective opioid abatement and remediation;(2) Expenses incurred in administering and operating the opioid abatement council;(3) Related expenses as provided in § 33-11-104(b); and(4) Expe…

(a) The trustees of the opioid abatement fund are:(1) The commissioner of finance and administration;(2) The state treasurer; and(3) The chair of the opioid abatement council. (1) The commissioner of finance and administration; (2) The state treasurer; and (3) The chair of the op…

The opioid abatement fund is the designated repository of funds that are either dedicated to opioid abatement or remediation or are otherwise directed to abatement or remediation and that are received by the state pursuant to a judgment on opioid-related claims, a recovery in ban…

(a) The trustees shall adopt, in writing, an investment policy or policies authorizing how assets in the trust may be invested prior to investments being made. (b) Funds in the opioid abatement fund may be invested and reinvested for the benefit of the fund by the state treasurer…

(1) As used in this part:(1) “Company” means a sole proprietorship, organization, association, corporation, partnership, joint venture, limited partnership, limited liability partnership, limited liability company, or another entity or business association, including all wholly o…

Consistent with the prudent investor rule pursuant to § 35-14-103, the standard of care pursuant to § 35-14-104, and the exercise of reasonable care in delegation of investment and management functions pursuant to § 35-14-111 and § 8-37-112, the department of treasury investment …

(a) Notwithstanding another law or policy to the contrary, the state treasurer has the sole authority to exercise, in person or by proxy, all voting rights with respect to securities held by a program and to give general or special proxies or powers of attorney with or without po…

(a) The state treasurer has final authority over an investment or proxy voting decision for a program. (b) The state treasurer may make and enter into contracts, agreements, and other instruments with an individual or entity to effectuate this part, including, but not limited to,…

(1) With respect to a pension plan, the political subdivision with authority over the pension plan shall comply with this section. The requirements applicable to the pension plans include the following:(1) Consistent with the prudent investor rule pursuant to § 35-14-103, the sta…

(a) A proxy advisory firm shall not provide proxy voting advice to a pension plan if an actual or potential conflict of interest exists that could reasonably be expected to affect the objectivity or reliability of the proxy voting advice. As used in this subsection (a), “an actua…

(1) As used in this part:(1) “Board” means the board of trustees for the Tennessee consolidated retirement system;(2) “China” means the government of the People's Republic of China, the Chinese Communist Party, the Chinese military, or any instrumentality thereof;(3) “Company” me…

(a) (1) With respect to the retirement system and political subdivision pension plans, the board and governing body for each respective political subdivision pension plan, as applicable, shall, no later than January 15, 2026, and by January 15 of each subsequent year, review the …

This part is known and may be cited as the “Tennessee Trump Account Program Act”.

(1) As used in this part, unless the context otherwise requires:(1) “Federal law” means federal law, as amended, and all rules, regulations, notices, guidance, and interpretations released by the United States department of the treasury, including the internal revenue service.(2)…

Notwithstanding any law to the contrary and subject to the approval of the United States department of the treasury, the state may act as a nonbank custodian pursuant to 26 CFR § 1.408-2(e) for Trump account funds, subject to requirements in federal law. If the state receives the…

The commissioner of finance and administration shall set up and maintain special accounts in the general fund with respect to moneys received for designated purposes from the federal government.

(a) Notwithstanding any law or regulation to the contrary, any reference to a separate account in state law is deemed to mean a separate account within the state's accounting system and shall not require establishment of a separate account in a state depository. (b) Any reference…

Unless otherwise provided by law, the funding board established by § 9-9-101 shall act as trustee for any funds which are directed to be held in trust by the state or any agency thereof. Unless otherwise provided by law, the state treasurer shall invest such trust funds under pol…

(a) There is created within the general fund a special agency account to be known as the “police pay supplement fund.” (b) Notwithstanding any law to the contrary, all funds designated to fund the police pay supplement created pursuant to § 38-8-111 shall be deposited in the poli…

(a) There is created a fund within the treasury of the state of Tennessee to be known as the “victims of crime assistance fund.” (b) Moneys shall be deposited to the fund pursuant to § 67-4-606 and as may be otherwise provided by law and shall be invested pursuant to § 9-4-603. M…

(a) There is created in the state treasury a fund to be known as the “impaired drivers trust fund.” Moneys shall be deposited in the fund as provided in § 55-10-413(b), and shall be invested for the benefit of the fund pursuant to § 9-4-603. Moneys in the fund shall not revert to…

(a) There is hereby created a segregated account within the state treasury to be known as the “transportation equity trust fund.” Moneys shall be deposited to the fund pursuant to § 67-6-103(b), and shall be invested for the benefit of the fund pursuant to § 9-4-603. Moneys in th…

(a) It is in the interest of this state to promote, encourage and foster the commercial and economic interests of the state by attraction of industries, educational and research facilities, and other facilities involving modern technologies. In furtherance of this end, the genera…

(a) There is hereby created a fund or account, known as the “civil rights attorneys' fees awards account,” out of which federal court judgments awarding attorneys' fees in civil rights cases shall be paid where the state is liable for such judgments. (b) The civil rights attorney…

(a) (1) For any law enacted after January 1, 2023, that results in a net increase in periods of imprisonment in state facilities, there must be appropriated from recurring revenues the estimated operating costs of the law.(2) Appropriations made under subdivision (a)(1) must be u…

(a) (1) There is hereby created on the books and records of the state treasury a reserve account in the general fund to be known as the “reserve for revenue fluctuations.” Amounts which may from time to time be in this reserve shall be available, as hereinafter provided, to meet …

No state funds for appeals of capital cases shall be appropriated for or allocated to The Capital Case Resource Center of Tennessee, Inc., or any other nongovernmental corporation or organization, except that this prohibition shall not apply to an individual member of the bar app…

(a) Except as otherwise provided in subsection (b), on and after July 1, 1998, no state funds appropriated specifically for child advocacy centers shall be allocated or paid to any such center unless the center clearly demonstrates that it:(1) Is a nonprofit corporation which has…

(a) There is created a fund within the state treasury, to be known as the “victims of human trafficking fund.” The fund consists of grants, appropriations by the general assembly, and any federal funds, to the extent permitted by federal law and regulation. Moneys deposited in th…

(a) There is created a fund within the state treasury to be known as the Hurricane Helene interest payment fund. The fund consists of grants, appropriations by the general assembly, federal funds, to the extent permitted by federal law and regulation, and any other moneys made av…

(a) There is created a fund within the state treasury to be known as the governor's response and recovery fund. The fund consists of grants, appropriations by the general assembly, loan repayments, federal funds, to the extent permitted by federal law and regulation, and any othe…

(a) There is created a fund within the state treasury to be known as the children's digital protection fund. Notwithstanding another law to the contrary, moneys received by the state pursuant to the resolution of legal claims concerning the effects of the use of a social media pl…

(a) It is the duty of every department, institution, office and agency of the state and every officer and employee of state government, including the state treasurer, collecting or receiving state funds, to deposit them immediately into the state treasury or to the account of the…

(a) No department, officer or agency of state government, except the state treasurer, shall deposit state funds to the credit of such department, officer or agency in any financial institution except as provided in this section. (b) Whenever the satisfactory conduct of the state'…

Sections 9-4-301 and 9-4-302 shall not apply to institutions and other entities governed by the board of trustees of the University of Tennessee or the state board of regents. Those institutions and other entities shall operate in accordance with procedures established by their r…

Whenever interest bearing accounts are established by the state treasurer or other state official pursuant to § 9-4-301, § 9-4-302 or § 9-4-307, reasonable service charges may be deducted from interest income pursuant to procedures established by the state treasurer and commissio…

(a) All deposits made pursuant to § 9-4-301, except as provided in subsection (b), shall be evidenced by a deposit certification in accordance with procedures established by the commissioner of finance and administration and approved by the state treasurer. (b) Deposits of state …

(a) Each state depository where public deposits are made by the state treasurer shall transmit to the state treasurer a monthly statement of moneys received, charges assessed, interest credited and amounts paid by it on account of the state. (b) Each state depository where a depa…

The state treasurer is authorized to open accounts in state depositories and establish procedures to be followed by each depository for the handling of state deposits.

The state treasurer, in the exercise of the state treasurer's official duties, is hereby authorized to enter into agreements with any federal reserve bank as the state treasurer deems necessary or advisable, for the purpose of transferring funds through the facilities of the fede…

In the liquidation of insolvent state depositories, the return of all state deposits, including funds held in trust by state officials, shall be preferred in payment.

(a) It is the duty of the commissioner of financial institutions to advise, on a timely basis, the state treasurer and the commissioner of finance and administration of the condition of each state bank and state chartered savings and loan association, including recommendations re…

All state funds held in state depositories shall be secured by required collateral as provided in § 9-4-404, except for funds on deposit in the name of the state with a federal reserve bank.

(a) The state treasurer shall evaluate the market value of required collateral monthly, and more frequently if market conditions require. (b) Any state depository whose collateral has a market value less than one hundred five percent (105%) of the value of its state deposits, les…

Prior to default, the state treasurer, county trustee or other public official charged with the deposit of public funds and the trustee custodian, if the collateral is held by a trustee custodian, is authorized to remit to the state depository any and all interest, distributions …

(a) Default shall be deemed to occur whenever any state depository fails to return any state deposit including earned interest when due in accordance with the terms of the deposit contract. (b) In all other situations, as defined in § 9-4-102, where the safety or security of stat…