43-29-112 - Referendum on continuation of assessment program. - Tennessee Statutes

43-29-112. Referendum on continuation of assessment program.

If the commissioner determines that, during any continuous twelve-month period the assessment program is in effect, over thirty percent (30%) of the proceeds generated by the assessment is being refunded, then the commissioner shall conduct a referendum within one hundred twenty (120) days to determine whether the assessment program should remain in effect.

[Acts 1985, ch. 188, § 12.]