SB 220: Taxes, Ad Valorem - As introduced, creates the commercial development board; with respect to new commercial property developed by private entities in certain taxing jurisdictions, authorizes the private entities to enter into agreements for payments in lieu of ad valorem taxes and leases with the commercial development board. - Amends TCA Title 4; Title 5; Title 6; Title 7; Title 9; Title 13; Title 48 and Title 67.

Plain-language summary

SB 220 is a bill introduced in the Tennessee Senate on January 16, 2025. According to its official title, it concerns: Taxes, Ad Valorem - As introduced, creates the commercial development board; with respect to new commercial property developed by private entities in certain taxing jurisdictions, authorizes the private entities to enter into agreements for payments in lieu of ad valorem taxes and leases with the commercial development board. - Amends TCA Title 4; Title 5; Title 6; Title 7; Title 9; Title 13; Title 48 and Title 67. Primary sponsor: Brent Taylor (Republican). Most recent recorded action (March 19, 2025): Recommended for passage, refer to Senate State and Local Government Committee.

Generated automatically from the official title, sponsor list, and status record only. It does not characterize the bill’s purpose or effects. How summaries are written