House Bill 1309 amends Tennessee Code Annotated, Section 64-9-107, by adding a new subsection (e) that stipulates that interest income from investments and deposits related to utility systems must be credited to a separate account. This income is designated for the specific purpose of managing utility systems, cannot revert to the general fund, and must be carried forward into subsequent fiscal years. Additionally, an amendment to the bill specifies that this new subsection will be deleted on June 30, 2029.

The bill aims to ensure that interest income generated from utility system investments is utilized effectively and remains available for future use, thereby enhancing the management of utility systems in Tennessee. The provision for the eventual deletion of the subsection indicates a temporary measure, suggesting that the legislature intends to reassess the necessity of this financial management strategy after a set period.

Statutes affected:
Introduced: 64-9-107
Amended with HA0129 -- 04/14/2025: 64-9-107