New Funding for Development Districts

Official: AN ACT to amend Tennessee Code Annotated, Title 13, Chapter 14, Part 1, relative to development districts.

IntroducedN/A

Why This Matters

This bill aims to support local development by adding a new district and adjusting funding for existing ones.

If you live or work in a development district, your area could receive more financial support for projects.

Affects: Residents and businesses in the MidSouth development district and the other eight districts will benefit from this funding.

Summary

As enacted, adds the Mid South development district to the list of development districts to which this state intends to assist financially; specifies an overall state funding level for the nine development districts; changes the calculation for how much funding each development district will receive. - Amends TCA Title 13, Chapter 14, Part 1.

What changes is this bill making?

1. This bill adds the MidSouth development district to the list of areas receiving state financial support. 2. The state will provide a set amount of funding for all nine development districts. 3. The bill changes how funding amounts are calculated for each development district.

Who is affected?

Residents and businesses in the MidSouth development district and the other eight districts will benefit from this funding.