Amends TCA Title 4; Title 5; Title 6; Title 7; Title 9; Title 13; Title 48 and Title 67.

Tennessee SB0220 establishes a commercial development board, administratively attached to the Department of Economic and Community Development, to negotiate payments in lieu of ad valorem taxes (PILOTs) for new commercial properties. The board, consisting of eight members appointed by state officials, will oversee the acquisition and leasing of these properties and is required to submit annual reports detailing their activities. Key provisions include the board's authority to approve PILOT agreements, the stipulation that these agreements cannot exceed ten years, and requirements for financial analysis and reporting to affected taxing jurisdictions.