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HB0672 • 2026

Industrial Development

AN ACT to amend Tennessee Code Annotated, Title 7, Chapter 53, Part 3, relative to industrial development corporations.

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Enacted

This bill passed the Legislature and reached final enactment based on the latest official action.

Sponsor
Scarbrough, Yager
Last action
2025-05-13
Official status
Comp. became Pub. Ch. 379
Effective date
Not listed

Plain English Breakdown

The bill summary does not provide details on funding for these changes or what happens if the new nonprofit cannot take over the land.

Changes for Industrial Development Corporations

This bill modifies Tennessee's laws regarding how land owned by certain nonprofits is handled when those nonprofits dissolve.

What This Bill Does

  • Modifies Tennessee law to allow a specific type of nonprofit, one that promotes industrial and new nuclear development, to take over the land from another nonprofit if it dissolves.

Who It Names or Affects

  • Nonprofit organizations in Tennessee
  • Industrial development corporations

Terms To Know

501(c)(3) nonprofit entity
A type of organization that is allowed to receive tax-deductible donations and has a purpose like charity, education, or promoting industry.

Limits and Unknowns

  • The bill does not specify what happens if the new nonprofit cannot take over the land.
  • It's unclear how this change will affect existing industrial development projects.

Bill History

  1. 2025-05-13 Tennessee General Assembly

    Comp. became Pub. Ch. 379

  2. 2025-05-13 Tennessee General Assembly

    Effective date(s) 05/05/2025

  3. 2025-05-13 Tennessee General Assembly

    Pub. Ch. 379

  4. 2025-05-05 Tennessee General Assembly

    Signed by Governor.

  5. 2025-04-23 Tennessee General Assembly

    Transmitted to Governor for action.

  6. 2025-04-22 Tennessee General Assembly

    Signed by H. Speaker

  7. 2025-04-22 Tennessee General Assembly

    Signed by Senate Speaker

  8. 2025-04-22 Tennessee General Assembly

    Enrolled and ready for signatures

  9. 2025-04-16 Tennessee General Assembly

    Comp. SB subst.

  10. 2025-04-16 Tennessee General Assembly

    Passed H., Ayes 79, Nays 9, PNV 2

  11. 2025-04-16 Tennessee General Assembly

    Subst. for comp. HB.

  12. 2025-04-14 Tennessee General Assembly

    H. Placed on Regular Calendar 4/16/2025

  13. 2025-04-14 Tennessee General Assembly

    Objected to on Consent Calendar.

  14. 2025-04-10 Tennessee General Assembly

    H. Placed on Consent Calendar for 4/14/2025

  15. 2025-04-09 Tennessee General Assembly

    Placed on cal. Calendar & Rules Committee for 4/10/2025

  16. 2025-04-08 Tennessee General Assembly

    Rec. for pass; ref to Calendar & Rules Committee

  17. 2025-04-02 Tennessee General Assembly

    Placed on cal. State & Local Government Committee for 4/9/2025

  18. 2025-04-02 Tennessee General Assembly

    Action def. in State & Local Government Committee to 4/9/2025

  19. 2025-03-26 Tennessee General Assembly

    Placed on cal. State & Local Government Committee for 4/2/2025

  20. 2025-03-26 Tennessee General Assembly

    Action def. in State & Local Government Committee to 4/2/2025

  21. 2025-03-19 Tennessee General Assembly

    Placed on cal. State & Local Government Committee for 3/26/2025

  22. 2025-03-19 Tennessee General Assembly

    Action def. in State & Local Government Committee to 3/26/2025

  23. 2025-03-13 Tennessee General Assembly

    Rcvd. from S., held on H. desk.

  24. 2025-03-12 Tennessee General Assembly

    Placed on cal. State & Local Government Committee for 3/19/2025

  25. 2025-03-12 Tennessee General Assembly

    Rec. for pass by s/c ref. to State & Local Government Committee

  26. 2025-03-10 Tennessee General Assembly

    Engrossed; ready for transmission to House

  27. 2025-03-10 Tennessee General Assembly

    Passed Senate, Ayes 30, Nays 0

  28. 2025-03-07 Tennessee General Assembly

    Placed on Senate Consent Calendar 2 for 3/10/2025

  29. 2025-03-05 Tennessee General Assembly

    Placed on s/c cal Cities & Counties Subcommittee for 3/12/2025

  30. 2025-03-04 Tennessee General Assembly

    Recommended for passage, refer to Senate Calendar Committee

  31. 2025-02-25 Tennessee General Assembly

    Placed on Senate Commerce and Labor Committee calendar for 3/4/2025

  32. 2025-02-25 Tennessee General Assembly

    Placed on Senate Commerce and Labor Committee calendar for 3/4/2025

  33. 2025-02-12 Tennessee General Assembly

    Passed on Second Consideration, refer to Senate Commerce and Labor Committee

  34. 2025-02-10 Tennessee General Assembly

    Introduced, Passed on First Consideration

  35. 2025-02-06 Tennessee General Assembly

    Assigned to s/c Cities & Counties Subcommittee

  36. 2025-02-06 Tennessee General Assembly

    P2C, ref. to State & Local Government Committee

  37. 2025-02-05 Tennessee General Assembly

    Intro., P1C.

  38. 2025-02-04 Tennessee General Assembly

    Filed for introduction

  39. 2025-02-03 Tennessee General Assembly

    Filed for introduction

Official Summary Text

Abstract summarizes the bill.

Current Bill Text

Read the full stored bill text 
SENATE BILL 758
By Yager

HOUSE BILL 672
By Scarbrough

HB0672
001973
- 1 -

AN ACT to amend Tennessee Code Annotated, Title 7,
Chapter 53, Part 3, relative to industrial
development corporations.

BE IT ENACTED BY THE GENERAL ASSEMBLY OF THE STATE OF TENNESSEE:
SECTION 1. Tennessee Code Annotated, Section 7-53-317(a)(2), is amended by
deleting the period (.) at the end of the subdivision and adding the following language:
; however, upon dissolution of the nonprofit entity, the acreage shall be transferred to a
501(c)(3) nonprofit entity whose main purpose is to promote industrial development and
new nuclear development.
SECTION 2. This act takes effect upon becoming a law, the public welfare requiring it.