Economic and Community Development - As introduced, increases, from 30 to 45, the number of days within the end of a fiscal year, for which a municipality is requesting an allocation of sales and use taxes revenues, that a municipality may submit a summary of the cost of an economic development project through to the end of that fiscal year, with supporting documentation certified by the chief financial officer of the municipality. - Amends TCA Title 7, Chapter 40.

This bill extends the deadline for Tennessee municipalities to submit cost summaries for economic development projects using sales tax revenues. It changes the timeframe from 30 to 45 days after the end of the fiscal year. Municipalities must now provide these summaries with supporting documentation certified by their chief financial officer within the new 45-day window. The change directly affects local governments seeking state allocations for projects like retail or tourism facilities. The bill amends Tennessee Code Annotated, Title 7, Chapter 40, Section 7-40-104(c)(1).