Tenn. Comp. R. & Regs. 1240-06-09-.02 - PURPOSE FOR WHICH SET-ASIDE ASSESSMENTS MAY BE USED

(1) Pursuant to the provisions of 34 C.F.R. §§ 395.8 and 395.9, funds derived from set-aside assessments can only be used for the following purposes:

(a) Maintenance and repair of equipment,

(b) The purchase of new equipment,

(c) The replacement of equipment,

(d) Management services,

(e) Assuring a fair minimum of return to vendors, and

(f) The establishment and maintenance of retirement or pension funds and/or health insurance contributions, if it is so determined by a majority vote of blind vendors licensed by the State licensing agency, after such agency provides to each such vendor information on all matters relevant to such proposed purposes.

(2) The Agency shall maintain sufficient records to assure the reasonableness of the use of set-aside assessments in the operation of TBE and for those purposes designated.

Notes

Tenn. Comp. R. & Regs. 1240-06-09-.02

Original rule filed August 30, 1978; effective November 29, 1978. Amendment filed November 8, 1979; effective January 29, 1980. Amendment filed May 25, 1983; effective June 24, 1983. Amendment filed November 6, 1985; effective December 6, 1985. Amendment filed December 11, 1986; effective January 25, 1987. (Formerly numbered as 1240-6-8-.02). Amendment filed March 10, 1989, effective April 24, 1989. Repeal and new rule filed April 27, 1998, effective August 28, 1998. Repeal and new rule filed April 8, 2005; effective June 22, 2005. Amendments filed May 25, 2017; effective 8/23/2017.

Authority: T.C.A §§ 4-5-201 et seq., 49-11-601 et seq., 71-1-104, 71-1-105(12), 71-4-501 et seq., and 71-4-604(c); 34 C.F.R. § 395 et seq. and 34 C.F.R. 395.9(c).