49-3-2002 - Eligibility to receive appropriations Disposition of funds. - Tennessee Statutes

49-3-2002. Eligibility to receive appropriations Disposition of funds.

(a)  The Tennessee Intercollegiate State Legislature Foundation is eligible to receive appropriations for its endowment fund from the state general fund subject to the following conditions:

     (1)  Neither an appropriation nor the income from an appropriation may be spent for any organization other than the Tennessee Intercollegiate State Legislature (TISL);

     (2)  Any appropriation shall be returned to the state general fund if the TISL general assembly fails to meet in any three (3) consecutive school years;

     (3)  Any appropriation shall be released to the foundation only as a dollar-for-dollar match of private contributions to the endowment fund; and

     (4)  Any appropriation shall not revert to the general fund at the end of any fiscal year prior to June 30, 2012, but shall be carried over from year-to-year for the purpose of accomplishing this part.

(b)  It is the legislative intent that any funds appropriated to TISL be used by the foundation to eliminate fees paid by colleges and universities to participate in TISL.

[Acts 1985, ch. 471, § 2; 1995, ch. 170, § 1; 2008, ch. 625, § 1.]