Economic and Community Development - As enacted, clarifies purposes of FastTrack programs; requires certain reports be submitted to secretary of state; revises other provisions governing The Tennessee Job Growth Act of 2005. - Amends TCA Section 4-3-715; Section 4-3-716 and Section 4-3-717.
Companion bill has been assigned Public Chapter Number 1038 by the Secretary of State.
  • Bill History
  • Amendments
  • Video
  • Summary
  • Fiscal Note
  • Votes
  • Actions For SB2206Date
    Comp. became Pub. Ch. 103805/29/2012
    Am. withdrawn.(Amendment 2 - SA1265)04/26/2012
    Am. withdrawn.(Amendment 1 - SA0929)04/26/2012
    Comp. HB Subst (sends SB to dead bill file)04/26/2012
    Placed on Senate Regular Calendar cal. for 4/26/201204/25/2012
    S. Reset on Cal. for 4/26/2012 04/24/2012
    Placed on Senate Regular Calendar cal. for 4/24/201204/23/2012
    S. Reset on cal. for 4/24/201204/23/2012
    Placed on Senate Regular Calendar cal. for 4/23/201204/20/2012
    S. Reset on Cal. for 4/23/2012 04/16/2012
    Placed on Senate Regular Calendar cal. for 4/16/201204/12/2012
    S. Reset on cal. for 4/16/201204/12/2012
    Placed on Senate Regular Calendar cal. for 4/12/201204/10/2012
    Sponsor(s) Added.04/05/2012
    S. Reset on Cal. for 4/12/2012 04/05/2012
    Placed on Senate Regular Calendar cal. for 4/5/201204/03/2012
    Rec. for pass. w/ am., ref. to S. Cal. Comm. Ayes 9, Nays 0 PNV 003/20/2012
    Placed on S. C,L&A Comm. cal. for 3/20/201203/14/2012
    Action Def. in S. C,L&A Comm. to 3/20/201203/13/2012
    Placed on S. C,L&A Comm. cal. for 3/13/201203/09/2012
    Action Def. in S. C,L&A Comm. to 3/13/201202/28/2012
    Placed on S. C,L&A Comm. cal. for 2/28/201202/22/2012
    Action Def. in S. C,L&A Comm. to 2/28/201202/14/2012
    Placed on S. C,L&A Comm. cal. for 2/14/201202/08/2012
    P2C, ref. to S. C,L&A Comm.01/13/2012
    Intro., P1C.01/12/2012
    Filed for intro.01/10/2012
    Actions For HB2344Date
    Pub. Ch. 1038 05/29/2012
    Effective date(s) 05/21/1205/29/2012
    Signed by Governor.05/21/2012
    Transmitted to Governor for his action.05/09/2012
    Signed by S. Speaker05/08/2012
    Signed by H. Speaker05/03/2012
    Enrolled; ready for sig. of H. Speaker.05/03/2012
    H. concurred in S. am. no. 3, Ayes 92, Nays 0 04/27/2012
    H. Placed on Message Calendar for 4/27/201204/26/2012
    Passed S. as am., Ayes 29, Nays 1, PNV 104/26/2012
    S. adopted am. 3 04/26/2012
    S. Subst. HB for comp. SB.04/26/2012
    Rcvd. from H., P1C.03/29/2012
    Engrossed; ready for transmission to Sen.03/28/2012
    Passed H., as am., Ayes 96, Nays 0 03/28/2012
    H. adopted am.(Amendment 1 of 0 - HA0917)03/28/2012
    Sponsor(s) Added.03/28/2012
    H. Placed on Regular Calendar for 3/28/201203/21/2012
    Placed on cal. Calendar & Rules Committee for 3/21/201203/20/2012
    Rec. for Pass. if Am. ref. to: Calendar & Rules Committee03/20/2012
    Placed on cal. Commerce Committee for 3/20/201203/14/2012
    Rec. for pass. if am. by s/c ref. to Commerce Committee03/14/2012
    Placed on s/c cal Commerce Subcommittee for 3/14/201203/07/2012
    Action Def. in s/c Commerce Subcommittee to 3/14/201202/29/2012
    Placed on s/c cal Commerce Subcommittee for 2/29/201202/22/2012
    Action Def. in s/c Commerce Subcommittee to 2/29/201202/15/2012
    Placed on s/c cal Commerce Subcommittee for 2/15/201202/08/2012
    Sponsor(s) Added.01/25/2012
    Assigned to s/c Commerce Subcommittee 01/18/2012
    P2C, ref. to Commerce Committee 01/13/2012
    Intro., P1C.01/12/2012
    Filed for intro.01/10/2012
  • AmendmentsFiscal Memos
    SA0929Amendment 1-1 to SB2206Fiscal Memo for SA0929 (14308)  
    SA1265Amendment 2- to SB2206 
    SA1314Amendment 3- to SB2206 
    AmendmentsFiscal Memos
    HA0917Amendment 1-1 to HB2344Fiscal Memo for HA0917 (14308)  

    NOTE: Each fiscal memorandum applies only to the amendment(s) identified in the memorandum. The fiscal memorandum must be matched to any amendments that have been adopted.

  • Videos containing keyword: SB2206

  • Fiscal Summary

    Not Available


    Bill Summary

    This bill, as described below, creates the FastTrack economic development program, which would provide grants and loans to local governments or to their economic development organizations or other political subdivisions of the state, to be used to facilitate economic development activities that are not eligible for FastTrack infrastructure development or job training assistance funds.

    Present law creates the FastTrack infrastructure development and job training assistance programs within the department of economic and community development to assist new and existing business and industry that locate or expand in this state and create or retain jobs. Present law creates the FastTrack infrastructure development and job training assistance fund to provide infrastructure development and training grants where there is a commitment by a responsible official in an eligible business for the creation or retention of private sector jobs and private investment or where the commissioner of economic and community development determines that such investment will have a direct impact on employment and investment opportunities in the future.

    This bill creates the FastTrack economic development program, renames the fund as the "FastTrack infrastructure development and job training assistance and economic development fund" and additionally authorizes the fund to provide economic development grants in the circumstances described above.

    This bill specifies that FastTrack economic development grants or loans to assist eligible businesses may be made only to local governments or to their economic development organizations or other political subdivisions of the state. FastTrack economic development grants or loans may be used to facilitate economic development activities that are not eligible for FastTrack infrastructure development or job training assistance funds. These activities include grants or loans for retrofitting, relocating equipment, purchasing equipment, building repairs and improvements, temporary office space or other temporary equipment related to relocation or expansion. It is the stated intent of the general assembly that these economic development funds be used in exceptional circumstances when the funds will make a proportionally significant economic impact on the affected community.

    Present law requires the commissioner, at least quarterly, to report to the commissioner of finance and administration the status of the appropriations for the FastTrack programs. A copy of such report must be transmitted to the speakers of each house, the chairs of the finance, ways and means committees, the state treasurer, the state comptroller and the office of legislative budget analysis. This bill requires that a copy of the report additionally be sent to the secretary of state.

    ON MARCH 28, 2012, THE HOUSE ADOPTED AMENDMENT #1 AND PASSED HOUSE BILL 2344, AS AMENDED.

    AMENDMENT #1 requires the department of economic and community development to notify and provide to the state funding board a detailed written explanation of the purpose for which a FastTrack economic development grant or loan is being awarded or used when FastTrack economic development grants or loans are awarded or used for activities that are not eligible for FastTrack infrastructure development or job training assistance funds. The state funding board will maintain as confidential any records or information obtained in accordance with this provision that is otherwise confidential pursuant to state law.

    ON APRIL 26, 2012, THE SENATE SUBSTITUTED HOUSE BILL 2344 FOR SENATE BILL 2206, ADOPTED AMENDMENT #3, AND PASSED HOUSE BILL 2344, AS AMENDED.

    AMENDMENT #3 adds a requirement that the department post the following information on its web site at least quarterly:
    (1) The name of the company or entity receiving FastTrack funds;
    (2) The amount of the FastTrack funds received;
    (3) The number of jobs to be created by a project funded by FastTrack funds; and
    (4) The location of a project funded by FastTrack funds.

  • No fiscal note for this bill.
  • House Floor and Committee Votes

    HB2344 by McCormick - FLOOR VOTE: CONCUR IN SENATE AMENDMENT # 3 4/27/2012
    Passed
              Ayes...............................................92
              Noes................................................0

              Representatives voting aye were: Alexander, Armstrong, Bass, Brooks H, Brooks K, Brown, Butt, Campbell, Camper, Carr, Casada, Casada, Cobb, Coley, Curtiss, Dean, DeBerry J, DeBerry L, Dennis, Dunn, Elam, Eldridge, Evans, Faison, Favors, Fitzhugh, Fitzhugh, Floyd, Forgety, Gilmore, Gotto, Halford, Hall, Hardaway, Harrison, Harwell, Hawk, Hawk, Haynes, Hensley, Hill, Holt, Hurley, Johnson C, Johnson C, Johnson P, Jones S, Keisling, Kernell, Lollar, Lundberg, Maggart, Marsh, Matheny, Matlock, McCormick, McCormick, McDaniel, McDaniel, McDonald, McManus, Miller D, Miller L, Montgomery, Moore, Naifeh, Niceley, Parkinson, Pitts, Pody, Powers, Pruitt, Ragan, Ramsey, Rich, Richardson, Roach, Sanderson, Sexton, Shaw, Shepard, Shipley, Sontany, Sparks, Stewart, Swann, Tidwell, Todd, Towns, Turner J, Turner M, Weaver, White, Williams K, Williams R, Windle, Wirgau, Womick, Mr. Speaker Harwell, Mr. Speaker Naifeh, Mr. Speaker Williams K -- 92.

    HB2344 by McCormick - FLOOR VOTE: AS AMENDED PASSAGE ON THIRD CONSIDERATION 3/28/2012
    Passed
              Ayes...............................................96
              Noes................................................0

              Representatives voting aye were: Alexander, Armstrong, Brooks H, Brooks K, Brown, Butt, Campbell, Camper, Carr, Casada, Casada, Cobb, Coley, Cooper, Curtiss, Dean, DeBerry J, DeBerry L, Dennis, Dunn, Elam, Eldridge, Evans, Faison, Favors, Fitzhugh, Fitzhugh, Floyd, Ford, Forgety, Gilmore, Gotto, Halford, Hall, Hardaway, Harmon, Harrison, Harwell, Hawk, Hawk, Haynes, Hensley, Hill, Holt, Hurley, Johnson C, Johnson C, Johnson P, Jones S, Keisling, Kernell, Lollar, Lundberg, Maggart, Marsh, Matheny, Matlock, McCormick, McCormick, McDaniel, McDaniel, McDonald, Miller D, Miller L, Montgomery, Moore, Naifeh, Niceley, Odom, Parkinson, Pitts, Pody, Powers, Pruitt, Ragan, Ramsey, Rich, Richardson, Roach, Sanderson, Sargent, Sexton, Shaw, Shepard, Shipley, Sontany, Sparks, Stewart, Swann, Tidwell, Tindell, Todd, Towns, Turner J, Turner M, Weaver, White, Williams K, Williams R, Windle, Wirgau, Womick, Mr. Speaker Harwell, Mr. Speaker Naifeh, Mr. Speaker Williams K -- 96.

              HB2344 by McCormick - HOUSE CALENDAR & RULES COMMITTEE:
    Recommended for passage - refer to: House Regular Calendar 1 3/21/2012
              Voice Vote - Ayes Prevail

              HB2344 by McCormick - HOUSE BUSINESS AND UTILITIES COMMITTEE:
    Recommended for passage w/amendments- refer to: Calendar & Rules Committee 3/20/2012
              Voice Vote - Ayes Prevail

              HB2344 by McCormick - HOUSE BUSINESS AND UTILITIES SUBCOMMITTEE:
    Recommended for passage w/amendments- refer to: Commerce Committee 3/14/2012
              Voice Vote - Ayes Prevail

    Senate Floor and Committee Votes

    Senate moved to substitute and conform to HB2344

    HB2344 by McCormick - FLOOR VOTE: THIRD CONSIDERATION AMENDED 4/26/2012
    Passed
              Ayes...............................................29
              Noes................................................1

              Senators voting aye were: Barnes, Beavers, Bell, Berke, Burks, Crowe, Faulk, Finney L, Gresham, Harper, Haynes, Henry, Herron, Johnson, Kelsey, Ketron, Kyle, Marrero, Massey, Norris, Overbey, Ramsey, Roberts, Southerland, Stewart, Tate, Tracy, Watson, Yager, Mr. Speaker Ramsey -- 29.
              Senators voting no were: Campfield -- 1.

    SB2206 by Norris - SENATE COMMERCE AND LABOR COMMITTEE:
    Recommended for passage w/amendments- refer to: S. Cal. Comm. 3/20/2012
    Passed
              Ayes................................................9
              Noes................................................0

              Senators voting aye were: Beavers, Burks, Faulk, Gresham, Johnson, Southerland, Stewart, Tate, Tracy -- 9.