Economic and Community Development - As enacted, clarifies that certain definitions concerning housing facilities and developments with regard to industrial development corporations include affordable and workforce housing; authorizes a municipality or county to approve amendments to an economic impact plan when approving the plan. - Amends TCA Title 7, Chapter 53; Title 9, Chapter 21 and Title 9, Chapter 23.

SB 1271 clarifies that definitions for housing facilities under Tennessee's industrial development corporation laws explicitly include affordable and workforce housing. It modifies economic impact plan processes, allowing municipalities or counties to approve amendments to these plans without requiring additional public hearings. The bill directly affects local governments, industrial development corporations, and housing developers by streamlining plan modifications for projects involving affordable/workforce housing. Key provisions update three code sections to include these housing types in definitions and simplify administrative approvals for economic development plans. The changes aim to reduce bureaucratic hurdles for housing projects while maintaining existing regulatory frameworks.