Amends TCA Title 9; Title 54 and Title 67.

This bill creates the infrastructure and building fund as a reserve account in the general fund. The use of the monies available in the fund and over-collections allocated to the fund will be subject to appropriations. In addition to including the statement "This act makes appropriations for (here insert the object)" in the caption of an appropriation bill as required by present law, the caption of a supplemental appropriations act proposing the use of the infrastructure and building fund must include the phrase "This act authorizes utilization of the infrastructure and building fund." This bill limits use of funds from the infrastructure and building fund to the following:<br /> <br /> (1) County road and bridge construction and maintenance;<br /> <br /> (2) State road and bridge construction and maintenance; <br /> <br /> (3) Capital improvement projects; or<br /> <br /> (4) Infrastructure projects.<br /> <br /> On or before November 1, 2023, and on or before each November 1 thereafter, this bill requires the commissioner of finance and administration to determine the amount of over-collections, if any, during the prior fiscal year, and report this determination to the governor; the speaker and chief clerk of the senate; the speaker and chief clerk of the house of representatives; the chairs of the finance, ways and means committees; and the office of legislative budget analysis. For purposes of this bill, "over-collections" means state tax revenue collected for a fiscal year above the authorizations, allocations, and appropriations approved in the general appropriations act and any supplemental appropriations act for that fiscal year.<br /> <br /> On July 1, 2024, and on each July 1 thereafter, this bill requires the 10 percent of the over-collections are allocated to the infrastructure and building fund. Monies in the infrastructure and building fund may be invested in a manner consistent with monies held in the reserve for revenue fluctuations.<br /> <br /> This bill expresses the legislative intent that monies in the infrastructure and building fund only be appropriated to fund uses with an estimated cost of $5,000,000 or more.<br /> <br /> Present law requires the use of various criteria to determine compliance with state law concerning the form of the governor's budget document and provisions of the Constitution of Tennessee concerning appropriations. This bill adds the following to such criteria:<br /> <br /> (1) The allocation of funds to the infrastructure and building fund is not counted as an appropriation from state tax revenue; and<br /> <br /> (2) The appropriation of funds from the infrastructure and building fund is counted as an appropriation from state tax revenue.<br />