SB 2505: Economic and Community Development - As introduced, creates a condition of eligibility for certain economic development incentives that employers certify that they pay employees working on the development project for which the incentive was granted at least $21.99 an hour beginning July 1, 2026, with annual adjustments thereafter by the commissioner of economic and community development based on the MIT living wage calculator; allows for recovering from employers found to be in violation of such wage requirements the incentives already provided. - Amends TCA Title 4 and Title 50.

Plain-language summary

SB 2505 is a bill introduced in the Tennessee Senate on February 2, 2026. According to its official title, it concerns: Economic and Community Development - As introduced, creates a condition of eligibility for certain economic development incentives that employers certify that they pay employees working on the development project for which the incentive was granted at least $21.99 an hour beginning July 1, 2026, with annual adjustments thereafter by the commissioner of economic and community development based on the MIT living wage calculator; allows for recovering from employers found to be in violation of such wage requirements the incentives already provided. - Amends TCA Title 4 and Title 50. Primary sponsor: Charlane Oliver (Democratic). Most recent recorded action (March 3, 2026): Assigned to General Subcommittee of Senate Commerce and Labor 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