Shown verbatim: the complete text as captured from the official PDF posted by the Tennessee General Assembly, fetched 2026-09-25. Page and line markers are part of the official record; nothing is edited or removed. This is the chaptered version. The official bill page.
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$tate of utennessee
PUBLIC CHAPTER NO. 1013
HOUSE BILL NO. 2178
By Representatives Lafferty, Bricken
Substituted for: Senate Bill No. 2316
By Senator Watson
AN ACT to amend Tennessee Code Annotated, Title 4, relative to the Tennessee
technology development corporation.
BE IT ENACTED BY THE GENERAL ASSEMBLY OF THE STATE OF TENNESSEE:
SECTION 1. Tennessee Code Annotated, Section 4-14-203, is amended by deleting the
section and substituting:
(a) Effective July 1, 2026, the Tennessee technology development corporation is
vacated and reconstituted in accordance with subsections (b) through (I).
(b) A fifteen-member board of directors shall govern the corporation.
(c) Ten (10) members of the board of directors shall represent and be appointed
from the private sector, as follows:
(1) The governor shall appoint two (2) private sector representatives;
(2) The speaker of the house of representatives shall appoint one (1)
private sector representative;
(3) The speaker of the senate shall appoint one (1) private sector
representative; and
(4) The board of directors' nominating committee shall nominate six (6)
representatives from the private sector to serve on the board. Each of the
nominees must be approved by a majority vote of the board of directors.
(d) Four (4) members of the board of directors shall represent and be appointed
from the public sector, as follows:
(1) The governor shall appoint two (2) public sector representatives, one
(1) of whom shall be selected from lists of qualified persons submitted by
interested municipal and county organizations, including, but not limited to, the
Tennessee municipal league and the Tennessee county services association.
The governor shall consult with such interested organizations in making the
appointment;
(2) The speaker of the house of representatives shall appoint one (1)
public sector representative; and
(3) The speaker of the senate shall appoint one (1) public sector
representative.
(e) The commissioner of economic and community development shall serve as
an ex officio member of the board of directors.
(f) In making appointments to the board of directors, the appointing authorities
shall strive to ensure that the board is equally represented by persons from each of the
three (3) grand divisions of this state.
(g)
HB2178
(1)
(A) One (1) representative of the private sector and one (1)
representative of the public sector appointed by the governor shall each
serve initial terms of three (3) years.
(8) The representative of the private sector appointed by the
speaker of the house of representatives shall serve an initial term of three
(3) years.
(C) The representative of the private sector appointed by the
speaker of the senate shall serve an initial term of three (3) years.
(D) Three (3) representatives of the private sector appointed by
the board of directors in accordance with subdivision (c)(4) shall serve
initial terms of three (3) years.
(2)
(A) One (1) representative of the private sector and one (1)
representative of the public sector appointed by the governor shall each
serve initial terms of four (4) years.
(8) The representative of the public sector appointed by the
speaker of the house of representatives shall serve an initial term of four
(4) years.
(C) The representative of the public sector appointed by the
speaker of the senate shall serve an initial term of four (4) years.
(D) Three (3) representatives of the private sector appointed by
the board of directors in accordance with subdivision (c)(4) shall serve
initial terms of four (4) years.
(3) After the initial appointments under subdivisions (g)(1) and (2) expire,
all terms are for four (4) years, which begin on July 1 and expire on June 30 of
each applicable year.
(4) Board members are eligible to serve successive terms if reappointed
by the original authority.
(h) The board of directors shall elect a chair, vice chair, secretary, and such other
officers as it deems necessary from among its members.
(i) The board of directors shall appoint an executive committee of five (5) of its
members to administer the day-to-day operations of the corporation. The chair of the
corporation shall also serve as the chair of the executive committee.
U) The board of directors shall meet four (4) times in a calendar year, with
members convening in person for at least one (1) of the meetings. The executive
committee shall meet as needed.
(k) The board of directors shall adopt and implement a conflict of interest policy
for board members. The policy must mandate annual written disclosures of financial
interests, other possible conflicts of interest, and an acknowledgement by board
members that they have read and understand all aspects of the policy. The policy must
al_so require persons who are to be appointed to the board of directors to acknowledge,
as a condition of appointment, that they are not in conflict with the conditions of the
policy.
SECTION 2. Tennessee Code Annotated, Section 4-29-248(a), is amended by deleting
subdivision (57).
SECTION 3. Tennessee Code Annotated, Section 4-29-249(a), is amended by inserting
the following as a new subdivision:
2
HB2178
() Tennessee technology development corporation, created by§ 4-14-201;
SECTION 4. This act takes effect upon becoming a law, the public welfare requiring it.
3
HOUSE BILL NO. 2178
PASSED: April 21, 2026
CAMERON SEXTON, SPEAKER
HOUSE OF REPRESENTATIVES
QC •~,'1\1\.(,~~
SPEAKER OF ~~~CNALLy
1i rvJa igti APPROVED this
day of A 2026
~~
...
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