Commerce panel advances bill letting Mega Site Authority retain interest income for wastewater budget

House Bill 1309, sponsored in Commerce by Dr. Martin, was amended and approved by the House Commerce Committee on Tuesday and sent to the Finance Committee.

The bill would allow the Mega Site Authority of West Tennessee to retain interest income accrued in its wastewater fund “to make sure they stay at balanced budget,” the sponsor said during his opening remarks. An amendment identified in committee as 5195 was attached before the committee voted on the bill.

The amendment was described by the sponsor and adopted by voice vote. The sponsor said the amendment “sunsets his policy after 5 years to make sure 4 years to make sure that, we are staying in balance,” language he read into the record during discussion. Committee members asked no substantive follow-up questions about the mechanics of interest retention during the floor discussion in Commerce.

Chairman Vaughn called the recorded vote after discussion; the clerk reported 22 ayes and 0 nos, and the bill was reported out as amended to the Finance Committee.

The committee record shows a brief colloquy about recognition and procedure before the vote; no members requested additional fiscal detail on the floor of Commerce during the presentation. The bill’s text and the amendment are the governing sources for the change; the committee did not provide an independent fiscal breakdown during the hearing.

Votes at a glance: House Bill 1309 — amendment 5195 attached (voice); recorded vote 22–0; outcome: forwarded to Finance as amended.

Ending: The bill will proceed to the Finance Committee; committee remarks did not include a fiscal estimate in the Commerce hearing.