BHB/1/13
Sponsored by Elliott Herring, Robert Littleton, Elbert Saunders of Center for Creative Arts
This legislation was filed in the Finance and Administration category
Presented as part of the YIG Volunteer 2024 conference
| 1 | BE IT ENACTED BY THE TENNESSEE YMCA YOUTH IN GOVERNMENT |
| 2 | |
| 3 | SECTION 1: Terms in this act will be defined as follows |
| 4 | Private Compensation- The financial compensation of an elected representative by a private body |
| 5 | in exchange for a greater legislative voice |
| 6 | Private Body- Any individual or corporation functioning in majority under the private sector |
| 7 | Elected Representative- An individual currently serving in an elected position in the state of |
| 8 | Tennessee. |
| 9 | Financial Cooperative- any individual sharing finances or assets with an elected representative |
| 10 | |
| 11 | SECTION 2: All Elected representatives and their Financial Cooperatives will be required to report |
| 12 | their annual gross income |
| 13 | |
| 14 | SECTION 3: If an Elected Representative’s annual gross income exceeds 150% of their salary |
| 15 | provided by the state, they are to pay 90% of the exceeding amount in tax |
| 16 | |
| 17 | SECTION 4: Any Financial Cooperative of an elected representative will have their prior annual |
| 18 | income evaluated. If their yearly income during the service period of the elected representative |
| 19 | they share finances with exceeds 150% of their prior annual baseline, they are to pay 80% of the |
| 20 | exceeding amount in tax. |
| 21 | |
| 22 | SECTION 5: This law will not require any funding, public or private, and will generate funds for the |
| 23 | state of Tennessee. All funds paid in tax will be treated as regular funds generated by tax. |
| 24 | |
| 25 | SECTION 6: All laws or parts of law in conflict with this are hereby repealed. |
| 26 | |
| 27 | SECTION 7: This act shall take effect March 1st, 2026, the public welfare requiring it. |
| 28 |