Economic and Community Development - As introduced, enacts the "Small Business Growth and Empowerment Act"; authorizes business tax credits for small businesses hiring locally or providing workforce training; creates grants for minority-owned and women-owned businesses in underserved areas. - Amends TCA Title 4, Chapter 3, Part 7 and Title 67, Chapter 4.

HB 952, the "Small Business Growth and Empowerment Act," creates tax credits for small businesses that hire locally or provide workforce training, and establishes grants for minority-owned and women-owned businesses in underserved areas. The bill authorizes a dedicated fund (managed by the Department of Economic and Community Development) to provide grants for activities like site development, infrastructure, training, and technology improvements that directly support these businesses. Grants must be used in underserved communities - defined as areas with historical barriers to capital, such as rural or inner-city neighborhoods - and recipients must be local governments, economic development organizations, or nonprofits. The fund requires quarterly public reporting of grant recipients, amounts, and project descriptions to ensure transparency. This legislation directly affects small businesses, minority/women business owners, and communities seeking economic development resources.