Collection of annual fees

(a) The commission is authorized to annually collect fees from each Tennessee SARA institution, based on full-time enrollment and commensurate with the costs of administering SARA, except that the fees shall be limited as follows: Ask a legal question, get an answer ASAP!30. The fiscal year is designated by the calendar year in which it ends; for example, fiscal year 2006 begins on October 1, 2005 and ends on September 30, 2006.Institution: means an accredited postsecondary degree-granting school, college, university, or other organization. See Tennessee Code 49-7-1503NC-SARA: means the National Council for State Authorization Reciprocity Agreements. See Tennessee Code 49-7-1503SARA: means the agreement overseen by the National Council for SARA and administered by the Southern Regional Education Board. See Tennessee Code 49-7-1503State: when applied to the different parts of the United States, includes the District of Columbia and the several territories of the United States. See Tennessee Code 1-3-105(1) Initial application and subsequent annual renewal fees shall not exceed, by dollar amount, the respective individual institution fees assessed by NC-SARA or any successor organization; and (2) In the event that NC-SARA determines to waive or terminate the assessment of fees for participating institutions, then the fee applicable to Tennessee SARA institutions shall be the same as those fees assessed in the prior fiscal year. (b) All fees collected pursuant to this part shall be deposited in the state treasury and credited to a dedicated commission account for the administration of this part. (c) The fees to be collected by the commission shall accompany an application for voluntary participation in SARA and the annual renewal as a participating institution. (d) Any reports generated in compliance with NC-SARA shall be similarly submitted to participating Tennessee SARA institutions for informational purposes.