Tennessee SB0731 regulates development contracts between local governments and developers or contractors.

Tennessee SB0731 amends several titles of the Tennessee Code to regulate development contracts between local governments and developers or contractors. The bill stipulates that local governments cannot make changes or additions to the terms of a contract unless both parties agree to the modification of specific terms. It also mandates that local governments must release developers or contractors from their required bond within 30 days after an independent inspection confirms the completion of all required work.

Tennessee SB0731 regulates development contracts between local governments and developers or contractors.

Tennessee SB0731 amends several titles of the Tennessee Code to regulate development contracts between local governments and developers or contractors. The bill stipulates that local governments cannot make changes or additions to the terms of a contract unless both parties agree to the modification of specific terms. It also mandates that local governments must release developers or contractors from their required bond within 30 days after an independent inspection confirms the completion of all required work.