Tennessee § 4-12-110 - Use of profits — Earned revenue reserve fund established — Administration — Expenditures.

§ 4-12-110. Use of profits — Earned revenue reserve fund established — Administration — Expenditures.

Any profits derived from sales facilities authorized by § 4-12-108 shall be used in the programs of the state museum. There is established within the general fund a special agency account to be known as the earned revenue reserve fund for the purpose of assuring sufficient funding for the administration and programs of the state museum. All sales facilities revenue and other program fees collected shall be deposited into the fund. No part of the fund shall revert to the general fund, but shall be carried forward until expended in accordance with this chapter. The fund shall be administered by the museum executive director. For each fiscal year, there is allocated a sum sufficient from the fund to provide for the administrative and program costs of the state museum. Prior to the start of each fiscal year, and to the extent necessary during the fiscal year, certifications shall be made and delivered to the commissioner of finance and administration who has final authority regarding the actual expenditures of the fund. Acts 1975, ch. 291, § 3; T.C.A., § 4-1210; Acts 2018, ch. 821, § 8. Amendments. The 2018 amendment added (b) through (e); and substituted “sales facilities authorized by § 4-12-108 ” for “this operation” in present (a). Effective Dates. Acts 2018, ch. 821, § 20. April 24, 2018.