Bill > SB1766

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 regarding 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 and the maximum term for bonds or debt obligations issued to fund infrastructure projects cannot exceed thirty years, with provisions for multi-phase developments. The bill also permits a portion of special assessments to be set aside for administrative expenses related to collecting and allocating these assessments, and it adjusts the dissolution timeline for districts to be no later than thirty years from when the last assessment is first levied.

Government Affairs

https://wapp.capitol.tn.gov/apps/Billinfo/default.aspx?BillNumber=SB1766&ga=114