Bill > SB0751

This bill modifies Tennessee's funding approach for development districts, specifically updating the state's financial support for nine regional development districts, including the newly added MidSouth development district. The bill establishes a standardized funding mechanism where the state will allocate funds based on a per capita assessment, with a base state appropriation ranging from $295,000 to $370,000 depending on the district's per capita assessment level. The funding will be calculated at fifty cents per capita using the most recent population estimate from the U.S. Census Bureau, and appropriations are protected from reduction except during across-the-board budget cuts affecting multiple state departments. The funding distribution will consider factors such as population size, number of counties served, and regional cost of living variations. The bill ensures continued state financial assistance for regional economic development plans and activities, recognizing the importance of these districts in supporting local governments and Tennessee citizens. The changes aim to provide a more structured and equitable approach to funding development districts across the state.

Budget and Finance, Government Affairs

https://wapp.capitol.tn.gov/apps/Billinfo/default.aspx?BillNumber=SB0751&ga=114