SB0129 - AN ACT to amend Tennessee Code Annotated, Title 4; Title 9; Title 65; Title 67 and Title 68, relative to utilities.
Tennessee - 113th General Assembly
Introduced byPage Walley, Ken Yager, Edward S. Jackson
Last updated 4 months ago
4 Co-Sponsors
As enacted, prohibits the comptroller of the treasury, in determining whether a utility system is financially distressed, from considering the straight-line depreciation of an asset acquired or completed in the 12 calendar months preceding the audit, so long as the asset's depreciation is calculated in accordance with generally accepted accounting principles and if this prohibition is approved by a simple majority vote of the governing body of a utility system at a meeting of the governing body. - Amends TCA Title 4; Title 9; Title 65; Title 67 and Title 68.
STATUS
Passed
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