Tennessee’s new Brownfield legislation proposed by Governor Bill Lee provides significant incentives for acquisition of contaminated property. The legislation envisions three new areas of concentration for brownfield redevelopment: The amendments to Tenn. Code Ann. § 7-3-312 and 316 include changes to eligibility for the tax increment financing (TIF) funding and additional qualified costs. It will remove the restriction that the TIF is available only for urban brownfield projects in eligible zones. It will also include the cost of acquisition and cost related to ...
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