54-4-507 - Maximum state share of project cost. - Tennessee Statutes

54-4-507. Maximum state share of project cost.

(a)  The state share payable for a project undertaken pursuant to this part shall be no more than eighty percent (80%) of the approved project cost.

(b)  The local government share shall be at least twenty percent (20%) of the approved project cost. This share may be provided by local government funds and in-kind project work approved by the commissioner, or either of them, wholly or partly.

(c)  The percentage in subsections (a) and (b) shall also apply to any unexpended balance from appropriations prior to 2004 that are not subject to a written agreement between the local government and the department. In the event there exists a written agreement between the department and the local government, then the percentage contained in the agreement shall continue to apply.

[Acts 1990, ch. 717, § 8; 1994, ch. 572, § 1; 2004, ch. 512, §§ 2-4.]