AN ACT to amend Tennessee Code Annotated, Title 9, Chapter 23 and Title 67, Chapter 5, relative to taxpayer agreements.

From the Legislature

As introduced, allows a housing authority, industrial development corporation, or community redevelopment agency to enter into an agreement with a property owner in an area identified in a redevelopment plan, economic impact plan, or community redevelopment plan that requires the owner to make certain payments to secure the bonds of the authority, corporation, or agency; requires the agreement to be recorded in the county's real property records to create a lien; affords the lien first priority over previously and later recorded mortgages and all other liens. - Amends TCA Title 9, Chapter 23 and Title 67, Chapter 5.