Bill > HB1989

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. It amends various Tennessee codes to establish the RegionSmart Development District, which encompasses counties in the three states, and the RegionSmart Development Agency, a corporate body that will oversee the district's planning and development. The bill outlines the composition and governance of the agency's Board of Commissioners, as well as the agency's powers, including the ability to issue bonds, acquire property through eminent domain, and coordinate regional transportation and infrastructure projects. The compact requires approval by at least two of the three states to take effect.