Tennessee § 4-41-105 - Go Build Account created. [Effective until July 1, 2024.]

§ 4-41-105. Go Build Account created. [Effective until July 1, 2024.]

To fund the program, there is created within the state board for licensing contractors a Go Build Account, referred to in this chapter as “the account.” Amounts remaining in the account at the end of each fiscal year shall not revert to the general fund. Money in the account shall be invested by the state treasurer pursuant to title 9, chapter 4, part 6, for the sole benefit of the account. A minimum of fifty percent (50%) of the total fiscal year fund balance resulting from contractor licensing revenue collected pursuant to title 62, chapter 6, part 1, after expenditures, shall be transferred by the board to the account, to be allocated to the corporation solely for the implementation, administration, and management of the program. This transfer shall occur on an annual basis in accordance with § 4-41-107. The board, in consultation with the corporation, may promulgate rules in accordance with the Uniform Administrative Procedures Act, compiled in chapter 5 of this title, for disbursing the funds for the program, as necessary, pursuant to subsection (b). There shall be participation and inclusion of the commissioner of labor and workforce development or the commissioner's designee in the board's administration and implementation of this chapter, including the provision of input from the commissioner or the commissioner's designee related to labor market information, safety and health, and the development of performance metrics consistent with industry growth indicators. Acts 2015, ch. 500, § 1; 2018, ch. 786, § 1. Compiler's Notes. For the Preamble to the act concerning the need to attract skilled construction workers, see Acts 2015, ch. 500. Amendments. The 2018 amendment rewrote (b) which read: “(b) The following shall be transferred by the board to the account, to be allocated to the corporation solely for the implementation, administration, and management of the program:“(1) A minimum of fifty percent (50%) of the total fiscal year fund balance resulting from contractor licensing revenue collected pursuant to title 62, chapter 6, part 1, after expenditures. This transfer shall occur on an annual basis in accordance with § 4-41-107 ; and“(2) One million seven hundred fifty thousand dollars ($1,750,000) of the state board for licensing contractors reserve balance resulting from a one-time transfer of funds from the balance to the corporation. This transfer shall occur prior to the end of fiscal year 2014-2015.”; and deleted the former proviso at the end of (c) which read: “; provided, however, funds collected pursuant to subsection (b) shall be used only to fund career and technical education programs and other certified and nationally accredited programs to encourage and promote career opportunities in the construction industry that are in secondary schools in this state, postsecondary schools in this state, the Tennessee colleges of applied technology, and other community colleges in this state.” Effective Dates. Acts 2015, ch. 500, § 3. May 20, 2015. Acts 2018, ch. 786, § 4. April 20, 2018. Cross-References. Repealer, § 4-41-111 .