(a) Notwithstanding § 4-5-229, rules establishing fees promulgated pursuant to this chapter before July 1, 2016, shall take effect following expiration of the ninety (90) days as provided in § 4-5-207.
Terms Used In Tennessee Code 43-1-704
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.
United States: includes the District of Columbia and the several territories of the United States. See Tennessee Code 1-3-105
(b) Beginning in 2020 and at least every five (5) years thereafter, the commissioner shall evaluate fees associated with the statutes specified in § 43-1-701(b) and may make adjustments through the rule-making process. Individual fees shall not be adjusted more than once every five (5) years.(c) After the initial adjustment under subsection (b), the percentage increase of any subsequent adjustment shall not exceed the percentage of increase in the average consumer price index, all items-city average, as published by the United States department of labor, bureau of labor statistics, between the dates of one (1) adjustment and the immediately subsequent adjustment. Individual fee adjustment amounts may be rounded up to the next tier amount provided in § 43-1-703(f).(d) Fees established under § 43-1-703(a) and the statutes specified in § 43-1-701(b) shall not be increased in any year when the fund’s fiscal year ending balance exceeds one hundred fifty percent (150%) of the fees collected in the previous year.
