Amends TCA Title 3; Title 4; Title 5; Title 6; Title 7; Title 9; Title 12; Title 13; Title 57; Title 62; Title 66; Title 67 and Title 68.

ON APRIL 11, 2024, THE SENATE ADOPTED AMENDMENT #2 AND PASSED SENATE BILL 2508, AS AMENDED.<br /> <br /> AMENDMENT #2 rewrites the bill to, instead, do the following:<br /> <br /> (1) Creates a separate account in the general fund to be known as the live music and performance venue fund;<br /> <br /> (2) Establishes that the fund is composed of gifts, grants, and other donations received from nonstate sources. The general assembly is not prohibited from appropriating moneys to the fund through the general appropriations act;<br /> <br /> (3) Establishes that the fund is administered by the Tennessee film, entertainment and music commission ("commission");<br /> <br /> (4) Requires the commission, or a subcontracted nonprofit organization, to provide grants from the fund to eligible live music and performance venues, performers, and promoters;<br /> <br /> (5) Requires that grants issued from the fund be used to support live music performances, performers, promoters, and the operational, promotional, or capital expenditures of live music and performance venues; and<br /> <br /> (6) Establishes that money in the fund at the end of a fiscal year does not revert to the general fund, and requires the commission to carry forward any amounts remaining in the fund. Moneys in the fund must be invested by the state treasurer for the sole benefit of the fund, and interest accruing on investments of and deposits into such fund must be returned to such fund and remain part of the fund.<br />