Bond Issues - As enacted, authorizes the state to issue and sell bonds. -

SB 1430 authorizes Tennessee to issue up to $1.01 billion in state bonds for infrastructure projects. The funds will finance construction and repairs of highways, bridges, state buildings, and equipment, as well as provide grants to counties, cities, and local governments for similar public projects. The bonds are backed by the state's full credit and repaid through tax revenues, with proceeds allocated to the Department of Finance and Administration (for local grants and state buildings) and the Department of Transportation (for highways and bridges). The bonds are exempt from state taxes except for inheritance, transfer, and estate taxes.