AN ACT to amend Tennessee Code Annotated, Title 5; Title 6; Title 7; Title 13 and Title 48, relative to the development of housing.
Impact
The passage of HB 2797 is anticipated to have significant implications for state laws related to housing and infrastructure development. The bill aims to streamline processes and enable local governments to respond effectively to housing demands driven by new employment opportunities. By allowing industrial development corporations to accept funding from state and federal sources, the legislation seeks to enhance the resources available for constructing necessary infrastructure in growing communities.
Summary
House Bill 2797 is designed to amend various sections of the Tennessee Code to facilitate the development of housing in counties that are identified as having acute housing needs due to economic development projects. This bill empowers industrial development corporations in designated 'housing opportunity counties' to construct and manage public infrastructure necessary for these residential developments. Such infrastructure may include roads, utilities, and other essential services that support housing projects aimed at accommodating expected population growth.
Sentiment
The general sentiment surrounding HB 2797 appears to be supportive, particularly among stakeholders focused on economic growth and housing stability. Advocates argue that it provides essential tools for localities to tackle housing shortages collaboratively with state support. However, there may be concerns regarding the potential for over-reliance on state funding and the extent of local authority to influence development decisions independently.
Contention
Despite the supportive sentiment, some contention exists regarding how the bill may affect local governance. Critics may argue that empowering industrial development corporations could lead to complications in land use decisions, potentially diminishing local control over development processes. There is also a debate about ensuring that the public infrastructure developed meets the diverse needs of community residents rather than primarily serving commercial interests.
AN ACT to amend Tennessee Code Annotated, Title 7; Title 9; Title 12; Title 13; Title 66; Title 67 and Title 68, relative to infrastructure development districts.
AN ACT to amend Tennessee Code Annotated, Title 7; Title 9; Title 12; Title 13; Title 66; Title 67 and Title 68, relative to infrastructure development districts.