Amends TCA Title 7; Title 9; Title 12; Title 13; Title 66; Title 67 and Title 68.
Tennessee SB0026 establishes the "Real Estate Infrastructure Development Act of 2025," which provides municipalities with the authority to create and govern infrastructure development districts. The bill affects municipalities and property owners within those districts, outlining procedures for district creation, public hearings, delinquent assessments, and audits. Key provisions include the requirement for public hearings to establish districts, the ability for multiple municipalities to cooperate, and stipulations for the dissolution of districts within 30 years or upon meeting certain conditions.
Tennessee SB0026 establishes the "Real Estate Infrastructure Development Act of 2025," which provides municipalities with the authority to create and govern infrastructure development districts. The bill affects municipalities and property owners within those districts, outlining procedures for district creation, public hearings, delinquent assessments, and audits. Key provisions include the requirement for public hearings to establish districts, the ability for multiple municipalities to cooperate, and stipulations for the dissolution of districts within 30 years or upon meeting certain conditions.
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