(a) There is hereby created and established a housing program fund to be administered by the agency and to consist of the following:

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Terms Used In Tennessee Code 13-23-402

  • Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
  • Fiscal year: The fiscal year is the accounting period for the government. For the federal government, this begins on October 1 and ends on September 30. The fiscal year is designated by the calendar year in which it ends; for example, fiscal year 2006 begins on October 1, 2005 and ends on September 30, 2006.
  • State: when applied to the different parts of the United States, includes the District of Columbia and the several territories of the United States. See Tennessee Code 1-3-105
  • Year: means a calendar year, unless otherwise expressed. See Tennessee Code 1-3-105
(1) Moneys transferred from the assets fund; and
(2) Such allocation of federal block grant or other federal funds as may be available and properly directed for housing programs.
(b) Notwithstanding subsection (a), for the fiscal year ending June 30, 1997, all allocations of tax revenues directed to the agency by former subdivisions (a)(2) and (3) in excess of six million dollars ($6,000,000) shall be reallocated to the state general fund; and, notwithstanding subsection (a), for the fiscal year ending June 30, 1998, all allocations of tax revenues directed to the agency by former subdivisions (a)(2) and (3) in excess of nine million dollars ($9,000,000) shall be reallocated to the state general fund. Thereafter, no such reallocation shall be made.
(c) Notwithstanding subsections (a) and (b), or any other provision of law to the contrary, for a period of one (1) year beginning with the fiscal year starting July 1, 1999, all allocations of tax revenues directed to the agency by former subdivisions (a)(2) and (3) shall be reallocated to the state general fund.
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