Bill > HB2375

This bill enacts the "Greenbelt Initiative Fund Transfer (GIFT) Act," establishing a dedicated "rural revenue equity fund" with a recurring appropriation of $210 million from the state's general fund. The Commissioner of Economic and Community Development will administer this fund, distributing money to rural counties—defined as those not within a metropolitan statistical area—based on a weighted score calculated from various criteria. These criteria include the amount and percentage of land classified as "greenbelt" (agricultural, forest, or open space), agricultural sales, the presence and economic output of livestock or dairy farms, county population, and whether the county has the authority to levy development taxes or impact fees, or has recently increased property taxes. Funds can be used by rural counties for capital improvements, infrastructure projects, law enforcement, emergency medical services, and property tax stabilization. The bill also outlines an application process with a fee to cover administrative costs and specifies that any unexpended funds will carry over to the next fiscal year, with all expenditures subject to an annual report to state officials.

Agriculture and Natural Resources

https://wapp.capitol.tn.gov/apps/Billinfo/Default?BillNumber=HB2375&ga=114