Industrial Development Legislation - Tennessee

Companion Bill SB2061. Industrial Development - Requires vote of approval by two thirds of county legislative body for an industrial development corporation to negotiate annual payments in lieu of taxes for less than an amount equal to property taxes that would have been available for local schools were its property not exempt. - Amends TCA Section 7-53-305. Fiscal Summary for *HB1473 / SB2061 Increase Local Govt. Revenues - Exceeds $17,500,000 Bill Summary for *HB1473 / SB2061 ON APRIL 19, 2007, THE SENATE ADOPTED AMENDMENT #1 AND RE-REFERRED SENATE BILL 2061 TO THE CALENDAR COMMITTEE. AMENDMENT #1 rewrites this bill. This amendment creates a special committee to conduct a study of payment-in-lieu-of-tax programs and their impact on education finance. The committee would consist of three members of the senate and three members of the [...]

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Companion Bill SB2265. Industrial Development - Reduces the membership of the Tennessee technology development corporation from 24 to 22 by removing the two members from the Tennessee science and technology advisory council; revises functions of the corporation. - Amends TCA Title 4, Chapter 14, Part 3. Fiscal Summary for *HB2287 / SB2265Increase State Expenditures - Not Significant Bill Summary for *HB2287 / SB2265 Under present law, the Tennessee technology development corporation is governed by a 24-member board of directors. This bill reduces the number of board members from 24 to 22 by removing the provision for two members of the Tennessee Science and Technology Advisory Council to serve on the board of directors. The Tennessee Science and Technology Advisory Council was abolished in 2005. Present law requires the corporation [...]

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Companion Bill HB1473. Industrial Development - Requires vote of approval by two thirds of county legislative body for an industrial development corporation to negotiate annual payments in lieu of taxes for less than an amount equal to property taxes that would have been available for local schools were its property not exempt. - Amends TCA Section 7-53-305. Fiscal Summary for SB2061 / *HB1473 Increase Local Govt. Revenues - Exceeds $17,500,000 Bill Summary for SB2061 / *HB1473 ON APRIL 19, 2007, THE SENATE ADOPTED AMENDMENT #1 AND RE-REFERRED SENATE BILL 2061 TO THE CALENDAR COMMITTEE. AMENDMENT #1 rewrites this bill. This amendment creates a special committee to conduct a study of payment-in-lieu-of-tax programs and their impact on education finance. The committee would consist of three members of the senate and three members of the [...]

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Companion Bill HB2287. Industrial Development - Reduces the membership of the Tennessee technology development corporation from 24 to 22 by removing the two members from the Tennessee science and technology advisory council; revises functions of the corporation. - Amends TCA Title 4, Chapter 14, Part 3. Fiscal Summary for SB2265 / *HB2287Increase State Expenditures - Not Significant Bill Summary for SB2265 / *HB2287 Under present law, the Tennessee technology development corporation is governed by a 24-member board of directors. This bill reduces the number of board members from 24 to 22 by removing the provision for two members of the Tennessee Science and Technology Advisory Council to serve on the board of directors. The Tennessee Science and Technology Advisory Council was abolished in 2005. Present law requires the corporation [...]

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Companion Bill SB1300. Taxes, Ad Valorem - Imposes additional reporting requirements on lessees of industrial development corporations concerning payments in lieu of taxes; requires lessees of public building authorities, sports authorities, enterprise zone development corporations, tax increment financing projects, and city and county property to make same reports to the state board of equalization. - Amends TCA Title 7, Chapters 53 through 67; Title 13, Chapters 20 through 23 and Title 67, Chapter 5. Fiscal Summary for *HB0930 / SB1300 Increase State Expenditures - Exceeds $170,000 Increase Local Govt. Expenditures - Not Significant Bill Summary for *HB0930 / SB1300 Present law requires industrial development corporation lessees to submit an annual report to the state board of equalization by October 1 of each year. This report must contain [...]

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Companion Bill HB0930. Taxes, Ad Valorem - Imposes additional reporting requirements on lessees of industrial development corporations concerning payments in lieu of taxes; requires lessees of public building authorities, sports authorities, enterprise zone development corporations, tax increment financing projects, and city and county property to make same reports to the state board of equalization. - Amends TCA Title 7, Chapters 53 through 67; Title 13, Chapters 20 through 23 and Title 67, Chapter 5. Fiscal Summary for SB1300 / *HB0930 Increase State Expenditures - Exceeds $170,000 Increase Local Govt. Expenditures - Not Significant Bill Summary for SB1300 / *HB0930 Present law requires industrial development corporation lessees to submit an annual report to the state board of equalization by October 1 of each year. This report must contain [...]

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Companion Bill HB3973. Industrial Development - Revises requirements concerning corporate powers and allocation of taxes. - Amends TCA Title 7, Chapter 53. Fiscal Summary for *SB2760 / HB3973 Foregone Local Revenue - Exceeds $100,000/Permissive Bill Summary for *SB2760 / HB3973 The present law provisions governing industrial development corporations authorize an industrial development corporation to submit an economic impact plan for a particular area. The area to be included in the plan must be located in the municipality and must include an industrial park or project that is either owned by such corporation or with respect to which the corporation has provided or will provide financial assistance including the loan of funds. The plan must discuss the expected benefits to the municipality from the development of the area, including anticipated [...]

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Companion Bill HB3121. Industrial Development - Exempts from ad valorem taxes certain headquarters facilities in Shelby County that agree to make payments to a municipality in lieu of special assessments. - Amends TCA Title 7, Chapter 53 and Title 7, Chapter 84. Fiscal Summary for *SB3052 / HB3121 Foregone Local Revenue - Exceeds $50,000 Bill Summary for *SB3052 / HB3121 Under present law, a municipality may delegate to an industrial development corporation the authority to negotiate and accept from the corporation's lessees, payments in lieu of ad valorem taxes. With regard to any project located within an area designated as the center-city area by a municipality in which there has been created a central business improvement district, the amount of such payments may not be fixed below the lesser of: (1) Ad valorem taxes otherwise [...]

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Companion Bill SB3052. Industrial Development - Exempts from ad valorem taxes certain headquarters facilities in Shelby County that agree to make payments to a municipality in lieu of special assessments. - Amends TCA Title 7, Chapter 53 and Title 7, Chapter 84. Fiscal Summary for HB3121 / *SB3052 Foregone Local Revenue - Exceeds $50,000 Bill Summary for HB3121 / *SB3052 Under present law, a municipality may delegate to an industrial development corporation the authority to negotiate and accept from the corporation's lessees, payments in lieu of ad valorem taxes. With regard to any project located within an area designated as the center-city area by a municipality in which there has been created a central business improvement district, the amount of such payments may not be fixed below the lesser of: (1) Ad valorem taxes otherwise [...]

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Companion Bill SB3945. Economic and Community Development - Revises provisions reporting requirements for certain entities operating under payment in lieu of tax (PILOT) agreements; imposes penalty for failure to file certain economic development plans in timely manner; revises other related provisions. - Amends TCA Section 4-17-303; Section 7-53-305; Section 7-53-312; Section 7-67-114 and Section 48-101-312. Fiscal Summary for *HB3726 / SB3945 Increase State Revenue - Not Significant Increase Local Revenue - Not Significant Bill Summary for *HB3726 / SB3945 Under the present law provisions governing property tax incentives for economic development, all economic development agreements must be in writing and submitted to the chief executive officer of each jurisdiction in which the property is located and to the comptroller of the treasury,[...]

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Companion Bill SB3858. Industrial Development - Revises requirements for economic impact plans of industrial development corporations. - Amends TCA Title 7, Chapter 53. Fiscal Summary for HB3972 / *SB3858Foregone Local Revenue - Exceeds $100,000/Permissive Bill Summary for HB3972 / *SB3858 The present law provisions governing industrial development corporations authorize an industrial development corporation to submit an economic impact plan for a particular area. The area to be included in the plan must be located in the municipality and must include an industrial park or project that is either owned by such corporation or with respect to which the corporation has provided or will provide financial assistance including the loan of funds. The plan must discuss the expected benefits to the municipality from the development of the area, including anticipated [...]

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Companion Bill SB2760. Industrial Development - Revises requirements concerning corporate powers and allocation of taxes. - Amends TCA Title 7, Chapter 53. Fiscal Summary for HB3973 / *SB2760 Foregone Local Revenue - Exceeds $100,000/Permissive Bill Summary for HB3973 / *SB2760 The present law provisions governing industrial development corporations authorize an industrial development corporation to submit an economic impact plan for a particular area. The area to be included in the plan must be located in the municipality and must include an industrial park or project that is either owned by such corporation or with respect to which the corporation has provided or will provide financial assistance including the loan of funds. The plan must discuss the expected benefits to the municipality from the development of the area, including anticipated [...]

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Companion Bill HB3726. Economic and Community Development - Revises provisions reporting requirements for certain entities operating under payment in lieu of tax (PILOT) agreements; imposes penalty for failure to file certain economic development plans in timely manner; revises other related provisions. - Amends TCA Section 4-17-303; Section 7-53-305; Section 7-53-312; Section 7-67-114 and Section 48-101-312. Fiscal Summary for SB3945 / *HB3726 Increase State Revenue - Not Significant Increase Local Revenue - Not Significant Bill Summary for SB3945 / *HB3726 Under the present law provisions governing property tax incentives for economic development, all economic development agreements must be in writing and submitted to the chief executive officer of each jurisdiction in which the property is located and to the comptroller of the treasury,[...]

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Companion Bill SB3945. Economic and Community Development - Revises provisions reporting requirements for certain entities operating under payment in lieu of tax (PILOT) agreements; imposes penalty for failure to file certain economic development plans in timely manner; revises other related provisions. - Amends TCA Section 4-17-303; Section 7-53-305; Section 7-53-312; Section 7-67-114 and Section 48-101-312. Fiscal Summary for *HB3726 / SB3945 Increase State Revenue - Not Significant Increase Local Revenue - Not Significant Bill Summary for *HB3726 / SB3945 Under the present law provisions governing property tax incentives for economic development, all economic development agreements must be in writing and submitted to the chief executive officer of each jurisdiction in which the property is located and to the comptroller of the treasury,[...]

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Companion Bill HB3972. Industrial Development - Revises requirements for economic impact plans of industrial development corporations. - Amends TCA Title 7, Chapter 53. Fiscal Summary for *SB3858 / HB3972Foregone Local Revenue - Exceeds $100,000/Permissive Bill Summary for *SB3858 / HB3972 The present law provisions governing industrial development corporations authorize an industrial development corporation to submit an economic impact plan for a particular area. The area to be included in the plan must be located in the municipality and must include an industrial park or project that is either owned by such corporation or with respect to which the corporation has provided or will provide financial assistance including the loan of funds. The plan must discuss the expected benefits to the municipality from the development of the area, including anticipated [...]

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Companion Bill SB3052. Industrial Development - Exempts from ad valorem taxes certain headquarters facilities in Shelby County that agree to make payments to a municipality in lieu of special assessments. - Amends TCA Title 7, Chapter 53 and Title 7, Chapter 84. Fiscal Summary for HB3121 / *SB3052 Foregone Local Revenue - Exceeds $50,000 Bill Summary for HB3121 / *SB3052 Under present law, a municipality may delegate to an industrial development corporation the authority to negotiate and accept from the corporation's lessees, payments in lieu of ad valorem taxes. With regard to any project located within an area designated as the center-city area by a municipality in which there has been created a central business improvement district, the amount of such payments may not be fixed below the lesser of: (1) Ad valorem taxes otherwise [...]

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Companion Bill HB3121. Industrial Development - Exempts from ad valorem taxes certain headquarters facilities in Shelby County that agree to make payments to a municipality in lieu of special assessments. - Amends TCA Title 7, Chapter 53 and Title 7, Chapter 84. Fiscal Summary for *SB3052 / HB3121 Foregone Local Revenue - Exceeds $50,000 Bill Summary for *SB3052 / HB3121 Under present law, a municipality may delegate to an industrial development corporation the authority to negotiate and accept from the corporation's lessees, payments in lieu of ad valorem taxes. With regard to any project located within an area designated as the center-city area by a municipality in which there has been created a central business improvement district, the amount of such payments may not be fixed below the lesser of: (1) Ad valorem taxes otherwise [...]

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Companion Bill HB3973. Industrial Development - Revises requirements concerning corporate powers and allocation of taxes. - Amends TCA Title 7, Chapter 53. Fiscal Summary for *SB2760 / HB3973 Foregone Local Revenue - Exceeds $100,000/Permissive Bill Summary for *SB2760 / HB3973 The present law provisions governing industrial development corporations authorize an industrial development corporation to submit an economic impact plan for a particular area. The area to be included in the plan must be located in the municipality and must include an industrial park or project that is either owned by such corporation or with respect to which the corporation has provided or will provide financial assistance including the loan of funds. The plan must discuss the expected benefits to the municipality from the development of the area, including anticipated [...]

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Companion Bill HB2287. Industrial Development - Reduces the membership of the Tennessee technology development corporation from 24 to 22 by removing the two members from the Tennessee science and technology advisory council; revises functions of the corporation. - Amends TCA Title 4, Chapter 14, Part 3. Fiscal Summary for SB2265 / *HB2287Increase State Expenditures - Not Significant Bill Summary for SB2265 / *HB2287 Under present law, the Tennessee technology development corporation is governed by a 24-member board of directors. This bill reduces the number of board members from 24 to 22 by removing the provision for two members of the Tennessee Science and Technology Advisory Council to serve on the board of directors. The Tennessee Science and Technology Advisory Council was abolished in 2005. Present law requires the corporation [...]

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Companion Bill SB2265. Industrial Development - Reduces the membership of the Tennessee technology development corporation from 24 to 22 by removing the two members from the Tennessee science and technology advisory council; revises functions of the corporation. - Amends TCA Title 4, Chapter 14, Part 3. Fiscal Summary for *HB2287 / SB2265Increase State Expenditures - Not Significant Bill Summary for *HB2287 / SB2265 Under present law, the Tennessee technology development corporation is governed by a 24-member board of directors. This bill reduces the number of board members from 24 to 22 by removing the provision for two members of the Tennessee Science and Technology Advisory Council to serve on the board of directors. The Tennessee Science and Technology Advisory Council was abolished in 2005. Present law requires the corporation [...]

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