Amends TCA Title 4 and Title 62.

TENNESSEE AUTOMOTIVE RACING COMMISSION This bill creates the Tennessee automotive racing commission ("commission") for the purpose of promoting and supporting the growth of the automotive racing industry in this state. The commission is attached to the department of tourist development for administrative purposes only. COMMISSION MEMBERS This bill provides that the commission is composed of nine members, including (i) the commissioner of tourist development or the commissioner's designee; (ii) the commissioner of transportation or the commissioner's designee; (iii) one member of the house of representatives and one member of the senate, both appointed by the governor as non-voting members; and (iv) five persons with experience in or knowledge of the racing industry in this state, including the areas of operations, executive leadership, marketing, sales, or the industry generally. Such members are appointed by and must serve at the pleasure of the governor. This bill requires legislative members of the commission to be appointed for two-year terms and to serve only so long as they remain members of the general assembly. Such persons may be reappointed as members of the commission. Any legislative vacancy on the commission must be filled by appointment by the governor, for the purpose of serving out the remainder of the unexpired term. This bill prohibits commission members from receiving compensation for their service as members, nor are they entitled to receive per diem or travel expenses in carrying out their duties under this bill. TERMS This bill requires the terms of five commission members initially appointed to be staggered. Thereafter, all terms will be for four years. Members must serve until the expiration of the term to which they were appointed and until their successors are appointed and qualified. A vacancy on the commission must be filled in the same manner as the initial appointment. MEETINGS This bill requires the commissioner of tourist development to call the first meeting of the commission, at which time the commission must elect a chair. The chair must serve a one-year term and may be appointed for up to two consecutive one-year terms. This bill provides that a majority of members of the commission constitute a quorum for official administrative business. For purposes of conducting official business of the commission, a quorum consists of no less than four members. ANNUAL REPORT This bill requires the commission to compile an annual report to the governor and the general assembly detailing the commission's activities on or before December 31 of each year. The report must include an accounting of funds received and expended during the year covered by the report, the outputs and outcomes achieved during the year covered by the report, and whether those achievements meet the commission's plan and overall program goals. The commission must make the report available to the public on the department of tourist development website. FUNDS This bill requires money appropriated for use by the commission be used to (i) increase the number of racing organizations, races, and racing events in this state; (ii) improve the quality of racing in this state; and (iii) promote the automotive racing industry in the state. This bill authorizes the commission to receive gifts, donations, grants, and funds to promote its activities and to support ongoing programs. All funds raised by the commission must be used in accordance with this bill. All funds received by the commission must be held by the department and accounted for separately for such use.