Senate Bill 2534, also known as House Bill 2164, amends Tennessee Code Annotated to include specific provisions regarding utility systems owned and operated by nonprofit associations. The bill designates existing language in Section 7-82-701(b)(4) as subdivision (A) and introduces a new subdivision (B). This new subdivision outlines the criteria for a nonprofit utility system to be recognized, including that it must have been created in 1985, govern a community with at least 5,000 lots or units, provide direct funding for emergency services, offer water and wastewater services exclusively to its members, and have a governing board that has requested jurisdiction from the Tennessee board of utility regulation.

The bill aims to clarify the regulatory framework for certain nonprofit utility systems, ensuring they meet specific operational and governance standards. It is set to take effect immediately upon becoming law, emphasizing the importance of the public welfare in its implementation.

Statutes affected:
Introduced: 7-82-701(b)(4), 7-82-701