Amends TCA Section 7-34-111; Section 7-36-113; Section 7-82-501; Section 7-82-702; Section 68-221-1311 and Section 68-221-611.

Tennessee HB0561 amends various sections of the Tennessee Code Annotated to authorize municipal, metropolitan, or county-owned water and wastewater systems, along with certain authorities, to issue revenue anticipation notes under specified conditions for emergency cash flow purposes. The bill affects these entities by allowing them to borrow against future revenues, while introducing oversight by the comptroller of the treasury, who must approve note sales and develop corrective action plans. Additionally, it modifies the process for removing members of utility district boards by expanding the grounds for removal and ensuring prompt appointment of replacements, while eliminating certain proposal requirements for bond sales over $50 million.