(a) The fees established for professional combatants, promoters, managers, matchmakers, seconds, ringside physicians, and other ring officials licensed in accordance with § 68-115-204 shall be in an amount that provides for the cost of administering the licensing and regulation of unarmed combat contests.
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.
Professional: means a person who competes or has competed in an unarmed combat sport contest for the purpose of a purse or item of value greater than that amount authorized for an amateur event, or any person who has been previously licensed in any other jurisdiction as a professional. See Tennessee Code 68-115-102
Unarmed combat: means and includes boxing, mixed martial arts and kickboxing as defined and regulated under this chapter. See Tennessee Code 68-115-102
(b) All moneys collected by the department pursuant to this chapter shall be deposited in the state treasury in a separate fund to be known as the Tennessee athletic commission administrative fund.(c) Fees to be paid by the persons listed in subsection (a) shall be adjusted as necessary to provide that the Tennessee athletic commission administrative fund is fiscally self-sufficient and that the revenues from fees do not exceed necessary and required expenditures.(d) Disbursements from the Tennessee athletic commission administrative fund shall be made solely for the purpose of defraying expenses incurred by the commission in the implementation and enforcement of this chapter.(e) No expenses for the implementation and enforcement of this chapter shall be payable from the general fund of the state.(f) Any part of the Tennessee athletic commission administrative fund remaining at the end of a fiscal year shall not revert to the general fund, but shall be carried forward until expended in accordance with this chapter.
