Bill > HB2581

This bill amends Tennessee law to require that, in counties with a population of less than 60,000, any payment in lieu of tax agreements negotiated by an industrial development corporation, housing authority, or health, educational, and housing facility corporation must be approved by a majority vote of the legislative body of each affected taxing jurisdiction before the agreement can be finalized. This new requirement applies to agreements entered into, renewed, or amended on or after July 1, 2024.