Tennessee § 54-4-507 - Maximum state share of project cost.

§ 54-4-507. Maximum state share of project cost.

The state share payable for a project undertaken pursuant to this part shall be no more than eighty percent (80%) of the approved project cost. The local government share shall be at least twenty percent (20%) of the approved project cost. This share may be provided by local government funds and in-kind project work approved by the commissioner, or either of them, wholly or partly. The percentage in subsections (a) and (b) shall also apply to any unexpended balance from appropriations prior to 2004 that are not subject to a written agreement between the local government and the department. In the event there exists a written agreement between the department and the local government, then the percentage contained in the agreement shall continue to apply. If any county has an unexpended balance of funds that have accrued in the state treasury and that are available for the benefit of the county under this part, then the county may use the unexpended balance, in whole or in part, to provide a portion of the local government share required by subsection (b); provided, that the county shall provide at least two percent (2%) of the approved project costs from county funds or in-kind project work approved by the commissioner of transportation, or both. Acts 1990, ch. 717, § 8; 1994, ch. 572, § 1; 2004, ch. 512, §§ 2-4; 2014, ch. 573, § 2; 2016, ch. 981, § 1. Compiler's Notes. Acts 2014, ch. 573, § 1 provided that the act shall be known and cited as the “County Bridge Relief Act of 2014”. Acts 2014, ch. 573, § 3 provided that nothing in this act shall be construed to be an appropriation of funds and no funds shall be obligated or expended pursuant to this act unless such funds are specifically appropriated by the General Appropriations Act. Amendments. The 2014 amendment, effective from March 28, 2014, until July 1, 2016, added (d) which read: “If any county has an unexpended balance of funds that have accrued in the state treasury and that are available for the benefit of the county under this part, then the county may use the unexpended balance, in whole or in part, to provide a portion of the local government share required by subsection (b); provided, that the county shall provide at least two percent (2%) of the approved project costs from county funds or in-kind project work approved by the commissioner of transportation, or both; provided, further, that the county shall initiate the project during fiscal years 2014-2015 or 2015-2016. This subsection (d) is deleted on July 1, 2016 and shall no longer be effective on and after such date.” The 2016 amendment, in (d), deleted former (d)(2) which read: “(2) This subsection (d) is deleted on July 1, 2016 and shall no longer be effective on and after such date.”; and deleted “; provided, further, that the county shall initiate the project during fiscal years 2014-2015 or 2015-2016” from the end of present (d). Effective Dates. Acts 2014, ch. 573, § 4. March 28, 2014. Acts 2016, ch. 981, § 2. April 27, 2016.