If the commissioner determines that during the first two (2) years the assessment is in effect that over fifty percent (50%) of the proceeds generated by the assessment is being refunded, then the commissioner shall conduct a referendum, within one hundred twenty (120) days of the end of the two-year period, on whether the assessment shall remain in effect.
Tenn. Code Ann. § 43-20-211
Referendum on assessment remaining in effect
Acts 1985, ch. 108, § 11.
Current official text: Tennessee Code (LexisNexis). Digitized from the UniCourt Code Improvement Commission public-domain capture. Reproduced from public-domain Tennessee statutes; confirm against the official source for the current text. Not legal advice.