Bill > SB0731

This bill introduces new regulations for development contracts between local governments and developers or contractors in Tennessee, focusing on streamlining the development approval process and protecting developers from excessive infrastructure requirements. The bill defines key terms like "development property," "nonessential infrastructure," and "local government," and establishes several important restrictions on local government actions. Specifically, local governments must now consolidate all change requests for development plans into a single document, review and respond to development applications within 30 business days, and limit deficiency reports to two instances. If a third deficiency report is issued, the local government must refund 50% of the application fees. The bill also prohibits local governments from requiring developers to fund or build nonessential infrastructure beyond the original contract terms, unless mutually agreed upon. Additionally, once a development project is independently verified as complete, the local government must release the developer's required bond within 30 days. These provisions aim to create more predictability and fairness in the development process by reducing bureaucratic hurdles and preventing unexpected financial burdens on developers. The bill will take effect on July 1, 2025, and will apply to contracts entered into, renewed, or amended on or after that date.