67-3-904 - Petroleum products tax increases Participation of disadvantaged or women business enterprises in construction. - Tennessee Statutes

67-3-904. Petroleum products tax increases Participation of disadvantaged or women business enterprises in construction.

(a)  (1)  The department of transportation shall make good faith efforts to obtain participation of either disadvantaged business enterprises or women business enterprises, as such enterprises may be defined by the commissioner of transportation through regulations which the commissioner is authorized to promulgate, in the amount approximating ten percent (10%) of the revenues that are distributed to the state highway fund from the petroleum products tax increases authorized by Acts 1989, ch. 46, and that are let to contract.

     (2)  With respect to projects funded wholly or in part with state funds, the department shall make good faith efforts to obtain participation of either disadvantaged business enterprises or women business enterprises, as such enterprises may be defined by the commissioner through regulations that the commissioner is authorized to promulgate, in the amount approximating seven percent (7%) of the revenues that are distributed to the state highway fund from the petroleum products tax increases, effective 1986, and that are let to contract.

(b)  As a condition of disbursement of the funds raised by Acts 1989, ch. 241, any local government receiving such funds shall agree to make good faith efforts to obtain participation of either disadvantaged business enterprises or women business enterprises, as such enterprises may be defined by the commissioner through regulations which the commissioner is hereby authorized to promulgate, in the amount approximating ten percent (10%) of the revenues which are distributed to such governments from the petroleum products tax increases authorized by Acts 1989, ch. 241, and which are let to contract.

[Acts 1997, ch. 316, § 1; T.C.A., § 67-3-2004.]