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TN SB2646
TN SB2646AN ACT to amend Tennessee Code Annotated, Title 7 and Title 48, relative to industrial development corporations.
summary
Introduced
02/02/2026
02/02/2026
In Committee
Crossed Over
Passed
Dead
Introduced Session
Potential new amendment
114th General Assembly
Bill Summary
As introduced, authorizes the board of directors of an industrial development corporation to initiate a merger with another corporation in the manner provided for public benefit corporations under the Tennessee Nonprofit Corporation Act. - Amends TCA Title 7 and Title 48.
AI Summary
This bill allows the board of directors of an industrial development corporation, which is an organization established to promote economic growth and job creation within a specific area, to start the process of merging with another corporation. This merger process would follow the same rules and procedures that apply to public benefit corporations under Title 48, Chapter 61 of the Tennessee Nonprofit Corporation Act, which outlines how non-profit organizations can combine. The bill amends Tennessee Code Annotated (TCA) Title 7 and Title 48, which are the sections of state law dealing with local government powers and corporations, respectively, to implement this change.
Committee Categories
Budget and Finance, Business and Industry
Sponsors (1)
Last Action
Recommended for passage with amendment/s, refer to Senate Calendar Committee Ayes 9, Nays 1 PNV 0 (on 04/08/2026)
bill text
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bill summary
| Document Type | Source Location |
|---|---|
| State Bill Page | https://wapp.capitol.tn.gov/apps/Billinfo/Default?BillNumber=SB2646&ga=114 |
| Amendment 2-0 to SB2646 | https://www.capitol.tn.gov/Bills/114/Amend/SA0992.pdf |
| Fiscal Memo for SA0992 (16660) | https://www.capitol.tn.gov/Bills/114/Fiscal/FM3068.pdf |
| Amendment 1-0 to SB2646 | https://www.capitol.tn.gov/Bills/114/Amend/SA0662.pdf |
| Fiscal Memo for SA0662 (14670) | https://www.capitol.tn.gov/Bills/114/Fiscal/FM2274.pdf |
| Fiscal Note - HB1878 | https://www.capitol.tn.gov/Bills/114/Fiscal/HB1878.pdf |
| BillText | https://www.capitol.tn.gov/Bills/114/Bill/SB2646.pdf |
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