(a) For the purpose of providing funds to aid in meeting the cost of benefits provided by chapters 34-37 of this title for commissioners, there is appropriated to the retirement system annually a sum equal to the amount of employer contributions required on account of commissioners pursuant to part 3 of this chapter.

Terms Used In Tennessee Code 8-37-601

  • Appropriation: The provision of funds, through an annual appropriations act or a permanent law, for federal agencies to make payments out of the Treasury for specified purposes. The formal federal spending process consists of two sequential steps: authorization
  • Employer: means :
    (A) The state or any department, commission, institution, board or agency of the state government by which a member is paid, with respect to members in its employ. See Tennessee Code 8-34-101
  • 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.
  • Jurisdiction: (1) The legal authority of a court to hear and decide a case. Concurrent jurisdiction exists when two courts have simultaneous responsibility for the same case. (2) The geographic area over which the court has authority to decide cases.
  • Retirement: means withdrawal from membership with a retirement allowance granted under chapters 34-37 of this title. See Tennessee Code 8-34-101
  • Year: means a calendar year, unless otherwise expressed. See Tennessee Code 1-3-105
(b) Such appropriation to be paid out of the unexpended balance standing to the credit of the department of safety in the “motor vehicle account” prescribed by § 65-15-112.

(1) The “motor vehicle account” is comprised of the motor carrier inspection, supervision and control fees set forth in § 65-15-112 and of all fines, fees and penalties collected by virtue of title 65, chapter 15, and/or out of the unexpended balance standing to the credit of the department of safety in the “public utilities account” prescribed by § 65-4-307.
(2) The “public utilities account” is comprised of the inspection, control and supervision fees and penalties therein required to be paid to the department of safety by public utilities subject to its control and jurisdiction, as prescribed by §§ 65-4-116 – 65-4-118, and title 65, chapter 4, part 3.
(c) Notwithstanding anything herein to the contrary, the funds appropriated by this section shall not exceed four percent (4%) annually of the balance in the motor vehicle account and the public utilities account as of the first day of the preceding fiscal year, together with a like percentage of all moneys paid into those accounts during such preceding fiscal year.
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