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Bill > HB0725
TN HB0725
TN HB0725AN ACT to amend Tennessee Code Annotated, Title 7, Chapter 40, relative to the development of retail and other public tourism facilities.
summary
Introduced
02/03/2025
02/03/2025
In Committee
04/08/2026
04/08/2026
Crossed Over
Passed
Dead
Introduced Session
Potential new amendment
114th General Assembly
Bill Summary
As introduced, increases, from 30 to 45, the number of days within the end of a fiscal year, for which a municipality is requesting an allocation of sales and use taxes revenues, that a municipality may submit a summary of the cost of an economic development project through to the end of that fiscal year, with supporting documentation certified by the chief financial officer of the municipality. - Amends TCA Title 7, Chapter 40.
AI Summary
This bill amends Tennessee Code Annotated, Title 7, Chapter 40, specifically Section 7-40-104(c)(1), by extending the timeframe for municipalities to submit documentation about economic development project costs from 30 to 45 days after the end of a fiscal year. This change allows local governments more time to compile and certify detailed financial documentation related to economic development projects through their chief financial officer. The expanded window gives municipalities additional flexibility in reporting and documenting the costs associated with local economic development initiatives. The bill will take effect immediately upon becoming law, as determined by the Tennessee General Assembly, with the stated rationale that the change serves the public welfare by providing municipalities with more administrative flexibility in project cost reporting.
Committee Categories
Budget and Finance, Government Affairs
Sponsors (1)
Last Action
Placed on cal. Finance, Ways, and Means Committee for 4/14/2026 (on 04/08/2026)
bill text
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bill summary
| Document Type | Source Location |
|---|---|
| State Bill Page | https://wapp.capitol.tn.gov/apps/Billinfo/default.aspx?BillNumber=HB0725&ga=114 |
| Fiscal Memo for HA0798 (15505) | https://www.capitol.tn.gov/Bills/114/Fiscal/FM3168.pdf |
| Amendment 1-0 to HB0725 | https://www.capitol.tn.gov/Bills/114/Amend/HA0798.pdf |
| Fiscal Memo for HA0798 (15505) | https://www.capitol.tn.gov/Bills/114/Fiscal/FM2815.pdf |
| Fiscal Note - HB0725 | https://www.capitol.tn.gov/Bills/114/Fiscal/HB0725.pdf |
| BillText | https://www.capitol.tn.gov/Bills/114/Bill/HB0725.pdf |
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