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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:
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
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.
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.
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.
Any reports generated in compliance with NC-SARA shall be similarly submitted to participating Tennessee SARA institutions for informational purposes.