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TN HB6003
Bill
Status
Passed
2/25/2025
Primary Sponsor
William Lamberth
Click for details
AI Summary
- Creates the Hurricane Helene Interest Payment Fund to pay local governments' interest costs for up to 3 years on loans taken to cover eligible disaster recovery expenses, capped at 5% or the prime rate (whichever is lower)
- Eligibility for interest payment assistance limited to local governments in counties included in the federal disaster declaration for Hurricane Helene
- Establishes the Governor's Response and Recovery Fund for emergency response and recovery, including agricultural recovery, unemployment assistance, and business recovery assistance
- Funds may only be spent in response to Hurricane Helene or other governor-declared emergencies, and can be distributed as grants or loans to third parties
- Tennessee Emergency Management Agency must submit annual reports to legislative finance committees detailing expenditures and remaining fund balances
Legislative Description
AN ACT to amend Tennessee Code Annotated, Title 9, Chapter 4, Part 2, relative to disaster relief funds.
Public Funds and Financing
Last Action
Comp. became Pub. Ch. 2
2/25/2025
Committee Referrals
Government Operations1/29/2025
Calendar and Rules1/28/2025
Finance, Ways & Means1/28/2025
Government Operations1/28/2025
Disaster Relief1/28/2025
Full Bill Text
No bill text available