SB3901 - Tennessee - Economic And Community Development

Economic and Community Development - Increases the total amount of FastTrack grants or loans made to an eligible business within any three-year period, without requiring additional approval from the funding board, from $750,000 to $1,000,000. - Amends TCA Title 4, Chapter 3, Part 7. Fiscal Summary for SB3901 / *HB3744State Expenditures - Net Impact - Not Significant Other Fiscal Impact - Any additional grant funding authorized to larger projects is expected to result in either a fewer number of smaller projects receiving grant funding or a similar number of smaller projects receiving grant funding of lesser amounts. Due to the law of diminishing returns, it is expected that a fewer number of jobs would be created statewide, and less economic development would occur, if smaller projects are negatively impacted by increasing the maximum limit. Thus, to maintain an equal level of economic development, and to create the same number of jobs statewide, that would have [...]

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