Bill > SB1915

This bill enacts the Interstate Compact Between the States of Arkansas, Mississippi, and Tennessee Creating the RegionSmart Development District and the RegionSmart Development Agency of the Greater Memphis Region. The compact establishes the RegionSmart Development District, which encompasses counties in the three states, and creates the RegionSmart Development Agency, a corporate and politic body, to govern the district. The agency will have various powers, including the ability to develop marketing strategies, enter into contracts, apply for grants, issue bonds, and exercise eminent domain. The compact requires the agency to adopt certain policies and procedures and submit annual reports to the state legislatures and governors. The bill also specifies that the compact takes effect when enacted by two of the three states.