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Committee advances bill to extend Nashville TDZ rules, creates joint tourism board
Summary
A committee amendment to House Bill 2,085 extends the Nashville Tourism Development Zone's statutory life and creates a joint capital tourism board and a mega-events fund; the comptroller clarified the TDZ statutory date differs from bond pay-off timelines. The bill passed committee 18–0 with two present-not-voting and moves to Government Operations.
House Bill 2,085, amended with drafting code 016922, won committee approval after sponsor Whit Boyd described it as a collaboration with Nashville city leaders and the Economic and Community Development department to expand the Nashville Tourism Development Zone (TDZ).
"The bill builds on the demonstrated success of Nashville's tourism development zone by extending its funding to support tourism, infrastructure, and long term economic growth for Nashville and Tennessee," Whit Boyd said, outlining provisions to extend the TDZ statutory life to 2043, create a joint capital tourism board appointed by legislative leaders, and establish a mega-events fund to support large tourism draws and related public-safety and East Bank infrastructure projects (the sponsor also referenced Oracle-related investments).
Committee members paused the proceedings to hear from Jason Mumbower, comptroller of the Treasury, after a question about dates in the amendment. Mumbower told the committee that the amendment extends the TDZ statutory life to 2043 while noting that bonds issued and paid with TDZ revenues could have pay-off periods that extend to 2058.
"The 2058 extension is not at all related to the life of the TDZ," Jason Mumbower said, explaining that the later date referenced bond-payment timelines rather than the statutory TDZ expiration.
After the clarification, the committee voted to move the amended bill on; the clerk recorded 18 ayes and two members present not voting. The bill now advances to the Government Operations committee for further consideration.
