HURRICANE HELENE INTEREST PAYMENT FUND This bill creates a fund within the state treasury to be known as the Hurricane Helene interest payment fund. The fund consists of grants, appropriations by the general assembly, federal funds to the extent permitted by federal law and regulation, and any other moneys made available to the Tennessee emergency management agency (TEMA) for the purposes of such fund from any other source. The commissioner of finance and administration may promulgate rules in order to ensure the funds are received and expended for the purpose of paying local governments' interest costs for up to three years on money borrowed to pay eligible disaster recovery costs related to Hurricane Helene as long as moneys from the fund only pay interest costs up to 5% or the prime interest rate, whichever is lower, and that the local government is located in a county that was included in the federal disaster declaration resulting from Hurricane Helene. GOVERNOR'S RESPONSE AND RECOVERY FUND This bill creates a fund within the state treasury to be known as the governor's response and recovery fund. The fund consists of grants, appropriations by the general assembly, loan repayments, federal funds to the extent permitted by federal law and regulation, and any other moneys made available to TEMA for the purposes of such fund from any other source or sources. Moneys deposited in the fund must generally be invested for the benefit of the fund, but some or all interest earnings may be transferred to the Hurricane Helene interest payment fund. Purpose of the Fund The commissioner of finance and administration may promulgate rules in order to ensure the funds are received and expended for the purpose of responding to, or recovering from, an occurrence, or threat thereof, whether natural, technological, or manmade, in war or in peace, that results or may result in substantial injury or harm to the population, or substantial damage to or loss of property ("emergency"). Such recovery efforts include agricultural recovery efforts related to an emergency; unemployment assistance related to an emergency; and business recovery assistance related to an emergency. This bill provides that moneys in the fund must only be expended in response to Hurricane Helene or another event for which the governor declares a state of emergency or disaster declaration pursuant to executive order or proclamation. Grants or Loans This bill authorizes Tennessee emergency management agency (TEMA) to expend such moneys in the form of grants or loans to third parties. Loan repayments must become part of the fund and remain available for the purposes described in this bill. Annual Report At least annually, this bill requires TEMA to submit to legislative committees a report stating the amount expended from the fund in the past year, the purposes for which the money was expended, and the amount remaining in the fund.