43-20-211 - Referendum on assessment remaining in effect. - Tennessee Statutes

43-20-211. Referendum on assessment remaining in effect.

If the commissioner determines that during the first two (2) years the assessment is in effect that over fifty percent (50%) of the proceeds generated by the assessment is being refunded, then the commissioner shall conduct a referendum, within one hundred twenty (120) days of the end of the two-year period, on whether the assessment shall remain in effect.

[Acts 1985, ch. 108, § 11.]