7-59-315 - Tennessee broadband deployment fund. - Tennessee Statutes

7-59-315. Tennessee broadband deployment fund.

(a)  There is created the Tennessee broadband deployment fund, referred to in this section as the fund, as a separate account in the state treasury. Amounts remaining in the fund at the end of each fiscal year shall not revert to the general fund. Moneys in the fund shall be invested by the state treasurer pursuant to title 9, chapter 4, part 6 for the sole benefit of the fund.

(b)  (1)  Moneys shall be deposited into the fund as provided by law or provisions of the general appropriation act. Moneys in the fund shall be used by the department to promote the deployment of broadband Internet service to unserved areas of the state pursuant to guidelines developed by the department in consultation with the broadband task force and Connected Tennessee. The guidelines shall provide for the making of grants to political subdivisions or entities of political subdivisions, cable service providers, video service providers, telecommunications companies and similar entities as the department may determine.

     (2)  It is declared to be the legislative intent that broadband Internet service be deployed throughout the state as expeditiously as possible. The general assembly finds that it is in the public interest that broadband Internet service be made available in unserved areas through means of public investment, private investment and public private partnerships.

[Acts 2008, ch. 932, § 16.]