Tennessee § 49-7-1208 - Creation in state treasury of a workforce advanced training fund — Appropriation of funds — Administration of fund.

§ 49-7-1208. Creation in state treasury of a workforce advanced training fund — Appropriation of funds — Administration of fund.

There is created in the state treasury a “workforce advanced training fund,” referred to in this part as the “fund.” The fund shall consist of moneys appropriated to the fund by the general assembly. Interest accruing on investments and deposits of the fund shall be carried forward into the subsequent fiscal year. Any fund balance remaining unexpended at the end of a fiscal year shall remain in the fund and shall not be transferred or revert to the general fund of the state at the end of any fiscal year. Moneys in the fund shall be invested by the state treasurer in accordance with § 9-4-603 . The fund shall be administered by the Tennessee higher education commission. Moneys in the fund shall be subject to annual appropriation by the general assembly to the Tennessee higher education commission to cover the costs associated with the establishment of the LEAP and any grants authorized pursuant to this part. Acts 2013, ch. 338, § 9; 2019, ch. 468, § 3. Compiler's Notes. Acts 2013, ch. 338, § 14 provided that nothing in the act, which enacted this part, shall be construed to be an appropriation of funds and no funds shall be obligated or expended pursuant to the act unless such funds are specifically appropriated by the general appropriations act.