Amends TCA Title 7 and Title 48.

Tennessee HB1878 authorizes the board of directors of an industrial development corporation to initiate a merger with another corporation, following the procedures outlined for public benefit corporations under the Tennessee Nonprofit Corporation Act. This bill affects industrial development corporations in Tennessee, allowing them greater flexibility in corporate restructuring. Key provisions include the alignment of merger processes with those applicable to public benefit corporations, facilitating potential collaborations or consolidations.