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TN SB0815
TN SB0815AN ACT to amend Tennessee Code Annotated, Title 7, Chapter 40, relative to the development of retail and other public tourism facilities.
summary
Introduced
02/04/2025
02/04/2025
In Committee
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 law by extending the timeframe for municipalities to submit documentation about economic development projects and their associated costs. Specifically, the bill increases from 30 to 45 days the period at the end of a fiscal year during which a municipality can submit a summary of project costs to the relevant authorities. This change provides local governments with additional time to compile and certify financial documentation for economic development projects through their chief financial officer. The bill appears designed to give municipalities more flexibility in reporting project expenses and potentially reduce administrative pressure in preparing fiscal documentation. The amendment is relatively narrow in scope, focusing solely on adjusting the reporting timeline within Tennessee's existing municipal economic development framework. The bill will take effect immediately upon becoming law, as stated in Section 2, which emphasizes that the public welfare requires its prompt implementation.
Committee Categories
Government Affairs
Sponsors (1)
Last Action
SA0957 - Amendment 1-0 to SB0815 (on 04/01/2026)
bill text
bill summary
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bill summary
| Document Type | Source Location |
|---|---|
| State Bill Page | https://wapp.capitol.tn.gov/apps/Billinfo/default.aspx?BillNumber=SB0815&ga=114 |
| Fiscal Memo for SA0957 (17039) | https://www.capitol.tn.gov/Bills/114/Fiscal/FM3186.pdf |
| Amendment 1-0 to SB0815 | https://www.capitol.tn.gov/Bills/114/Amend/SA0957.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/SB0815.pdf |
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