HOUSE BILL NO. 1372

By Representative Pinion

Substituted for: Senate Bill No. 1196

By Senator Ramsey

AN ACT to amend Tennessee Code Annotated, Section 62-19-116, relative to the Tennessee Auctioneer Commission.

BE IT ENACTED BY THE GENERAL ASSEMBLY OF THE STATE OF TENNESSEE:

SECTION 1. Tennessee Code Annotated, Section 62-19-116(l)(1), is amended by deleting the words "any return on investment of the account" and substituting the following:

any return on investment of funds in the account and any balance in the account over one hundred fifty thousand dollars ($150,000)

SECTION 2. Tennessee Code Annotated, Section 62-19-116(l)(1), is further amended by adding a new subdivision, as follows:

(__) Employ an investigator to assist the commission;

SECTION 3. This act shall take effect upon becoming a law, the public welfare requiring it.