[Effective until 7/1/2024]

(a) The corporation shall submit quarterly reports to include acceptable fiscal accounting practices and performance accountability metrics to the commissioner of labor and workforce development. The commissioner shall have oversight authority over the corporation‘s performance accountability and shall determine and establish required accountability metrics.

Terms Used In Tennessee Code 4-41-109

  • Corporation: means a nonprofit corporation, which shall be properly incorporated under the laws of this state and approved by the United States internal revenue service as an organization that is exempt from federal income tax under Section 501(a) of the Internal Revenue Code ( Tennessee Code 4-41-102
  • Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
  • 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.
  • Oversight: Committee review of the activities of a Federal agency or program.
(b) The corporation shall submit an annual report to the governor, the speaker of the senate, and the speaker of the house of representatives that includes a statement of its operations. The report shall be submitted within ninety (90) days after the end of the corporation’s fiscal year.
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