Section 55-4-332 - College sports(a)(1)(A) An owner or lessee of a motor vehicle who is a resident of this state, upon complying with state motor vehicle laws relating to registration and licensing of motor vehicles and paying the regular fee applicable to the motor vehicle and the fee provided for in § 55-4-204, shall be issued a University of Tennessee Lady Volunteers' NCAA National Championships new specialty earmarked license plate for a motor vehicle as authorized by § 55-4-210(c).(B) The purpose of the new specialty earmarked plates is to commemorate and celebrate the University of Tennessee Lady Volunteer Basketball Team's eight (8) NCAA Division I Women's Basketball Championships, which were won in 1987, 1989, 1991, 1996, 1997, 1998, 2007, and 2008.(2) The new specialty earmarked plates provided for in this subsection (a) must contain the colors and logo of the University of Tennessee Lady Volunteers and include the language "LADY VOLS NATIONAL CHAMPIONS" in an appropriate design. The plates must be designed in consultation with the president of the University of Tennessee system.(3)(A) The funds produced from the sale of University of Tennessee Lady Volunteers' NCAA National Championships new specialty earmarked license plates must be appropriated to the University of Tennessee, Knoxville women's athletics department in accordance with § 55-4-301. The funds must be earmarked to be used exclusively to fund scholarships for women's athletics at the University of Tennessee, Knoxville.(B) The funds must only be expended to fund activities authorized by this subsection (a). Any funds appropriated to the University of Tennessee pursuant to this subsection (a) must remain in reserve until expended for purposes consistent with this subsection (a), and shall not revert to the general fund on any June 30. Any interest earned on moneys appropriated to the University of Tennessee pursuant to this subsection (a) shall not revert on any June 30, but must remain available for appropriation in subsequent fiscal years.(b)(1)(A) An owner or lessee of a motor vehicle who is a resident of this state, upon complying with state motor vehicle laws relating to registration and licensing of motor vehicles and paying the regular fee applicable to the motor vehicle and the fee provided for in § 55-4-204, shall be issued a University of Tennessee National Championship new specialty earmarked license plate for a motor vehicle authorized by § 55-4-210(c).(B) The purpose of the new specialty earmarked plates is to commemorate and celebrate the University of Tennessee Volunteer football team's victory in the 1999 Fiesta Bowl and capture of the 1998-1999 National Championship.(2) The new specialty earmarked plates provided for in this subsection (b) must contain the colors and logo of the University of Tennessee Volunteers and include the language "UNIVERSITY OF TENNESSEE NATIONAL CHAMPIONS" in an appropriate design. The plates must be designed in consultation with the president of the University of Tennessee system.(3)(A) The funds produced from the sale of University of Tennessee National Championship new specialty earmarked license plates must be appropriated to the University of Tennessee in accordance with § 55-4-301. The funds must be deposited in the University of Tennessee, Knoxville general scholarship fund and used exclusively to fulfill the academic mission of the University of Tennessee, Knoxville.(B) The funds must only be expended to fund activities authorized by this subsection (b). Any funds appropriated to the University of Tennessee pursuant to this subsection (b) must remain in reserve until expended for purposes consistent with this subsection (b), and shall not revert to the general fund on any June 30. Any interest earned on moneys appropriated to the University of Tennessee pursuant to this subsection (b) shall not revert on any June 30, but must remain available for appropriation in subsequent fiscal years.Added by 2023 Tenn. Acts, ch. 250, s 1, eff. 7/1/2023.