Tennessee 2025-2026 Regular Session

Tennessee House Bill HB0672 Compare Versions

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2-SENATE BILL 758
3- By Yager
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54 HOUSE BILL 672
65 By Scarbrough
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98 HB0672
109 001973
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1211
1312 AN ACT to amend Tennessee Code Annotated, Title 7,
1413 Chapter 53, Part 3, relative to industrial
1514 development corporations.
1615
1716 BE IT ENACTED BY THE GENERAL ASSEMBLY OF THE STATE OF TENNESSEE:
1817 SECTION 1. Tennessee Code Annotated, Section 7-53-317(a)(2), is amended by
1918 deleting the period (.) at the end of the subdivision and adding the following language:
2019 ; however, upon dissolution of the nonprofit entity, the acreage shall be transferred to a
2120 501(c)(3) nonprofit entity whose main purpose is to promote industrial development and
2221 new nuclear development.
2322 SECTION 2. This act takes effect upon becoming a law, the public welfare requiring it.