(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.
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Terms Used In Tennessee Code 54-4-507

  • Commissioner: means the commissioner of transportation. See Tennessee Code 54-4-502
  • Department: means the department of transportation. See Tennessee Code 54-4-502
  • Local government: means any county, incorporated city or town, and metropolitan form of government, or any of them. See Tennessee Code 54-4-502
  • 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
  • written: includes printing, typewriting, engraving, lithography, and any other mode of representing words and letters. See Tennessee Code 1-3-105
(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.
(d) If any county has an unexpended balance of funds that have accrued in the state treasury and that are available for the benefit of the county under this part, then the county may use the unexpended balance, in whole or in part, to provide a portion of the local government share required by subsection (b); provided, that the county shall provide at least two percent (2%) of the approved project costs from county funds or in-kind project work approved by the commissioner of transportation, or both.
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