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Committee approves bill letting West Tennessee Mega Site retain wastewater interest for four years
Summary
The Business & Utilities Subcommittee approved House Bill 1309 to allow the Mega Site Authority of West Tennessee to retain interest earned on wastewater plant rate collections for a four-year period; the committee added a four-year sunset on the change and sent the amended bill to full Commerce.
The Business & Utilities Subcommittee voted to send House Bill 1309, sponsored by Representative Martin, to the full Commerce Committee after approving an amendment that places a four-year sunset on the change.
Representative Martin, sponsor of the bill, told the committee the legislation "simply allows the Mega Site Authority of West Tennessee the opportunity to retain interest accrued as a result of the rates collected from the operation of their wastewater plant." He said the change is intended to help the authority operate without running a deficit and that the sunset will allow lawmakers to reassess after four years.
The committee voted to adopt amendment 5195, which adds a four-year sunset to the provision, and then voted to send the amended bill to full Commerce. The clerk recorded nine ayes.
Representative Martin said the provision is intended to keep the authority neutral financially during the sunset period; no additional funding sources or offsets were stated during the discussion.
The subcommittee record shows the amendment was discussed and approved during the item on House Bill 1309; the sponsor stood ready for questions and no further changes were offered before the committee vote.
House Bill 1309 will be considered next by the full Commerce Committee.
