Plain English Breakdown
The bill does not specify how much money will be spent on repairs and improvements, leaving this detail uncertain.
James K. Polk Home Transfer Act
This bill changes how the James K. Polk Home is managed by transferring its ownership from a nonprofit association to the Tennessee Historical Commission.
What This Bill Does
- Removes the current trust agreement that gave the James K. Polk Memorial Association responsibility for managing the home.
- Requires the Tennessee Historical Commission to negotiate and purchase the James K. Polk Home with approval from the state building commission.
- Allows the Tennessee Historical Commission to spend money on repairing, renovating, and improving the property.
- Gives the Tennessee Historical Commission legal ownership of the property but allows it to give day-to-day control to a nonprofit corporation that will manage the home for public use.
- Requires the Tennessee Historical Commission to report annually about its management of the James K. Polk Home.
Who It Names or Affects
- The Tennessee Historical Commission
- Nonprofit corporations in Tennessee
- Visitors and citizens of Tennessee
Terms To Know
- Tennessee Historical Commission
- A state agency responsible for preserving historical sites.
- Trust agreement
- An arrangement where a nonprofit organization manages property on behalf of the public.
Limits and Unknowns
- The bill does not specify how much money will be spent on repairs and improvements.
- It is unclear if there will be an increase in state revenue from museum admissions.
- The exact date when the transfer of ownership happens depends on future actions by the Tennessee Historical Commission.