SB0751

Tennessee SB0751 amends funding for development districts based on per capita assessments.

Tennessee SB0751 amends the state's economic development funding structure. It sets annual state appropriations for development districts based on per capita assessments, ranging from $295,000 for districts with assessments of 1-20 cents, to $370,000 for those with assessments over 31 cents. The act mandates that state funding for these districts must not be reduced except through a broad percentage cut affecting multiple state agencies. The bill also emphasizes the state's commitment to supporting regional economic development plans and activities.