(a) The general assembly declares that disaster mitigation and resiliency are of the highest priority to the state and the people of Tennessee.(b) The general assembly finds that congress enacted the Safeguarding Tomorrow through Ongoing Risk Mitigation (STORM) Act (Pub. L. No. 116-284) in 2021 for states to establish a revolving loan fund. Revolving loan funds are used to provide funding assistance to local governments for projects to reduce disasters and hazards.(c) The purposes of this part are to ensure that Tennessee is ready and able to receive federal funds from the STORM Act by establishing the Resilient Tennessee Revolving Loan Fund, and to authorize the proper administration of the fund.Added by 2024 Tenn. Acts, ch. 686,s 1, eff. 7/1/2024.
Tennessee Legal Code