Bill > HB1681

This bill revises various provisions of the Real Estate Infrastructure Development Act of 2025, which governs the creation and operation of special districts for infrastructure development. Key changes include clarifying that existing laws for central business improvement or infrastructure development districts remain in effect, allowing for joint or separate public hearings when multiple municipalities are involved in establishing a district, and specifying that the maximum rate of special assessments can be set. It also clarifies that debt obligations issued to fund infrastructure cannot exceed thirty years, with provisions for multi-phase projects, and allows for a portion of special assessments to cover administrative costs, including overhead for host municipalities and their officials. Finally, the bill modifies the dissolution timeline for these districts, linking it to the last assessment levied rather than the initial establishment date.

Government Affairs

https://wapp.capitol.tn.gov/apps/Billinfo/default.aspx?BillNumber=HB1681&ga=114