§ 9-23-107. Policies and Procedures
Any taxing agency and tax increment agency may agree upon, approve and amend policies and procedures for allocating and calculating tax increment revenues and implementing this chapter and the applicable tax increment statute; provided, however, such policies and procedures shall not conflict with this chapter or any tax increment statute.
§ 9-23-108. Application of Proceeds
Notwithstanding any provision of title 7, chapter 53 to the contrary, the proceeds of tax increment revenues payable to an industrial development corporation shall only be applied to pay public infrastructure costs, the costs of acquisition of a project site, the cost of improvements to a project site, including, but not limited to, demolition, clearing, […]
§ 9-22-108. Supplementary Nature
This chapter shall be in addition to and supplemental to all other laws of Tennessee; provided, that wherever the application of this chapter conflicts with the application of such other provisions, such other provisions shall prevail.
§ 9-23-101. Short Title
This chapter shall be known and may be cited as the “Uniformity in Tax Increment Financing Act of 2012.”
§ 9-23-102. Chapter Definitions
As used in this chapter, unless the context otherwise requires: “Active plan” means a plan that is currently producing tax increment revenues; “Base taxes” means the property taxes, if any, that were levied by a taxing agency and payable with respect to the property within a plan area (other than any portion of such taxes […]
§ 9-23-103. Division of Property Taxes Levied Upon Property Located Within Area Subject to Plan
Notwithstanding any tax increment statute to the contrary, the property taxes levied upon property located within the area subject to a plan shall be divided as follows: Base taxes and dedicated taxes shall be allocated to and shall be paid, as provided in this chapter, to the respective taxing agencies as taxes levied by such […]
§ 9-23-104. Time Limitations on Allocations
Notwithstanding any tax increment statute or any plan to the contrary, no allocation of tax increment revenues shall be made with respect to any property for a period of more than twenty (20) years in the case of an economic impact plan, or thirty (30) years in the case of a redevelopment plan or community […]
§ 9-23-105. Administrative Expenses
Notwithstanding any tax increment statute to the contrary, any plan may provide that a total of up to five percent (5%) of incremental tax revenues may be set aside for administrative expenses, including expenses incurred by the tax increment agency and tax agency administrative offices (assessor of property and/or trustee or other tax collecting official) […]
§ 9-23-106. Preparation and Submission of Redevelopment Plan Information
After the approval by each applicable taxing agency of a plan, the applicable tax increment agency shall transmit to the appropriate assessor of property for each taxing agency and the chief financial officer of each taxing agency a copy of the description of all property within the area subject to the plan (including parcel numbers […]
§ 9-22-105. Priority of Pledges or Liens
Public obligations evidenced by multiple bonds, notes, certificates or other instruments of the same issue shall be equally and ratably secured, without priority by reason of number, date, date of sale, date of execution or date of delivery, by any pledge or lien created or granted on collateral to secure the payment thereof, unless otherwise […]