Tennessee 2025-2026 Regular Session

Tennessee House Bill HB1306 Compare Versions

Only one version of the bill is available at this time.

Old	New	Differences
1	1
2	2	SENATE BILL 1271
3	3	By Johnson
4	4
5	5	HOUSE BILL 1306
6	6	By Lamberth
7	7
8	8
9	9	HB1306
10	10	001279
11	11	- 1 -
12	12
13	13	AN ACT to amend Tennessee Code Annotated, Title 7,
14	14	Chapter 53; Title 9, Chapter 21 and Title 9,
15	15	Chapter 23, relative to economic development.
16	16
17	17	BE IT ENACTED BY THE GENERAL ASSEMBLY OF THE STATE OF TENNESSEE:
18	18	SECTION 1. Tennessee Code Annotated, Section 7-53-101(15)(A)(x), is amended by
19	19	deleting the subdivision and substituting instead the following:
20	20	Any multifamily housing facilities, including, but not limited to, affordable and
21	21	workforce housing, as those terms are defined in § 5-9-113, to be occupied, in whole or
22	22	in part, by persons of low to moderate income, elderly, or handicapped persons, as may
23	23	be determined by the board of directors, which determination shall be conclusive;
24	24	provided, that, any reference to "apartment" or "apartments" in this chapter means
25	25	multifamily housing facilities that are available for rent as described in this subdivision
26	26	(15)(A)(x);
27	27	SECTION 2. Tennessee Code Annotated, Section 7-53-101(15)(A), is amended by
28	28	adding the following as new, appropriately designated subdivisions:
29	29	( ) Any single family, condominium, or townhome housing development,
30	30	including, but not limited to, affordable and workforce housing, as those terms are
31	31	defined in § 5-9-113, to be occupied, in whole or in part, by persons of low to moderate
32	32	income, elderly, or handicapped persons as may be determined by the board of
33	33	directors, which determination shall be conclusive;
34	34	( ) Any public infrastructure, as defined in § 9-23-102, located within the
35	35	municipality that created the corporation;
36	36
37	37
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39	39
40	40	SECTION 3. Tennessee Code Annotated, Section 7-53-302(a)(4), is amended by
41	41	adding the following language immediately after the language "§ 7-53-101(15)(E)":
42	42	, nor shall this proviso apply to any apartment building or buildings, including, but not
43	43	limited to, affordable and workforce housing, as those terms are defined in § 5-9-113, to
44	44	be occupied, in whole or in part, by persons of low to moderate income, elderly, or
45	45	handicapped persons as may be determined by the board of directors, which
46	46	determination shall be conclusive
47	47	SECTION 4. Tennessee Code Annotated, Section 7-53-312(f), is amended by adding
48	48	the following language at the end of the subsection:
49	49	For any economic impact plan approved by the corporation before or after the effective
50	50	date of this act, the governing body of the municipality, or any city, town, or county
51	51	required to approve an economic impact plan, may approve amendments to the
52	52	economic impact plan in connection with approval of the plan, and the amended
53	53	economic impact plan becomes effective upon approval by the corporation of such
54	54	amendment. The corporation is not required to conduct an additional public hearing
55	55	prior to the approval of any amended economic impact plan.
56	56	SECTION 5. Tennessee Code Annotated, Section 7-53-312(g), is amended by adding
57	57	the following language at the end of the subsection:
58	58	Minor amendments to clarify terms or correct errors in the wording of an economic
59	59	impact plan that has been previously approved by the governing body of a municipality,
60	60	or any city, town, or county required to approve the economic impact plan pursuant to
61	61	subsection (f), become effective upon approval by the corporation. The corporation is
62	62	not required to conduct an additional public hearing prior to the approval of a minor
63	63	amendment to the economic impact plan. If the governing body of the municipality, or
64	64	any city, town, or county required to approve an economic impact plan approves the
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66	66
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68	68
69	69	economic impact plan prior to the approval by the corporation, then additional approval
70	70	of the economic impact plan by the governing body of a municipality, or any city, town, or
71	71	county is not required.
72	72	SECTION 6. Tennessee Code Annotated, Section 7-53-314(f), is amended by adding
73	73	the following language at the end of the subsection:
74	74	For any economic impact plan approved by the corporation before or after the effective
75	75	date of this act, the governing body of the municipality, or any city, town, or county
76	76	required to approve an economic impact plan, may approve amendments to the
77	77	economic impact plan, and the amended economic impact plan becomes effective upon
78	78	approval by the corporation. The corporation is not required to conduct an additional
79	79	public hearing prior to the approval of any amended economic impact plan.
80	80	SECTION 7. Tennessee Code Annotated, Section 7-53-314(g), is amended by inserting
81	81	the following language at the end of the subsection:
82	82	Minor amendments to clarify terms or correct errors in the wording of an economic
83	83	impact plan that has been previously approved by the governing body of the
84	84	municipality, or any city, town, or county required to approve the economic impact plan
85	85	pursuant to subsection (f), becomes effective upon approval by the corporation. The
86	86	corporation is not required to conduct an additional public hearing prior to the approval of
87	87	an amendment to the economic impact plan. If the governing body of the municipality,
88	88	or any city, town, or county required to approve an economic impact plan approves the
89	89	economic impact plan prior to the approval by the corporation, then additional approval
90	90	of the economic impact plan by the governing body of the municipality, or any city, town,
91	91	or county is not required.
92	92	SECTION 8. Tennessee Code Annotated, Section 7-53-316(a), is amended by deleting
93	93	the subsection and substituting instead the following:
94	94
95	95
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97	97
98	98	(a) It is the intent of the general assembly to encourage the redevelopment of
99	99	brownfield sites in this state. In addition to the authorization provided in § 7-53-312, a
100	100	corporation located in a municipality in which a brownfield redevelopment project is
101	101	located may prepare and submit to the municipality for approval an economic impact
102	102	plan with respect to an area that includes, but it is not limited to, the brownfield
103	103	redevelopment project in the manner provided in this section. Except to the extent
104	104	modified under this section, § 7-53-312 applies to an economic impact plan for an area
105	105	that includes a brownfield redevelopment project.
106	106	SECTION 9. Tennessee Code Annotated, Section 7-53-316(b), is amended by deleting
107	107	the subsection and substituting instead the following:
108	108	(b) An economic impact plan submitted for approval under this section must
109	109	provide that the property taxes imposed on the property, including either real property or
110	110	personal property or both located within the area subject to the plan, the sales taxes
111	111	imposed upon sales within the area subject to the plan, the sales taxes imposed upon
112	112	construction and related development or redevelopment activity in the area subject to
113	113	the plan, or any combination and amount of such property and sales taxes, will be
114	114	distributable in the manner described in subsection (c) and § 7-53-312(c), as applicable,
115	115	and used for the purposes permitted by subsection (e).
116	116	SECTION 10. Tennessee Code Annotated, Section 9-21-133(a)(1)(B), is amended by
117	117	adding the following as a new subdivision:
118	118	( ) Is secured or payable only from tax increment revenues, as defined in § 9-
119	119	23-102, except for guaranties or security provided by private parties;
120	120	SECTION 11. Tennessee Code Annotated, Section 9-23-103, is amended by the
121	121	adding the following as new subsections:
122	122
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125	125
126	126	( ) Notwithstanding subsection (a) or the tax increment statutes to the contrary,
127	127	for any multifamily, single family, condominium, or townhome housing development,
128	128	including, but not limited to, affordable and workforce housing, as those terms are
129	129	defined in § 5-9-113, to be occupied, in whole or in part, by persons of low to moderate
130	130	income, elderly, or handicapped persons as may be determined by the board of
131	131	directors, which determination shall be conclusive, a plan may provide that all taxes
132	132	levied by a participating tax agency must be allocated and paid to the tax increment
133	133	agency.
134	134	( ) A plan may provide that the amount of the dedicated taxes may be fixed for
135	135	the term of the plan as of the date of the plan approval by the tax increment agency or
136	136	the date of the first allocation of taxes to the tax increment agency.
137	137	SECTION 12. This act takes effect upon becoming a law, the public welfare requiring it.