Public Funds and Financing - As introduced, extends from 30 to 45 days, the period within which the commissioner of economic and community development and the comptroller must make a written determination approving or declining an allocation of tax increment revenues for a period longer than 20 years in the case of an economic impact plan, or 30 years in the case of a redevelopment plan or community redevelopment plan. - Amends TCA Title 4; Title 5; Title 6; Title 7; Title 8; Title 9 and Titl...

Summary

The bill changes Tennessee law so the commissioner of economic and community development and the state comptroller have up to 45 days, instead of 30, to issue a written decision on whether to approve or deny long‑term tax increment financing requests. It applies to economic impact plans lasting more than 20 years and redevelopment or community redevelopment plans lasting more than 30 years. The extension gives officials additional time to evaluate complex financing proposals.

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