Tennessee legislation · 114th General Assembly
Tennessee SB2316: AN ACT to amend Tennessee Code Annotated, Title 4, relative to the Tennessee technology development corporation.
Status: Chaptered, May 26, 2026
Fiscal Summary NOT SIGNIFICANT Bill Summary Present law establishes a 22-member board of directors for the Tennessee technology development corporation, which includes the following 21 appointees: (1) Three representatives of the private sector appointed by the governor; (2) Two representatives of the private sector appointed by the speaker of the house of representatives (3) Two representatives of the private sector appointed by the speaker of the senate; (4) Seven representatives from the private sector nominated by the board of directors' nominating committee and approved by majority vote of the board of directors; (5) Three representatives of the public sector appointed by the governor; (6) Two representatives of the public sector appointed by the speaker of the house of representatives; and (7) Two representatives of the public sector appointed by the speaker of the senate. Effective July 1, 2026, this bill vacates and reconstitutes the board as a 12-member board that includes the following 11 appointees: (1) Three representatives of the private sector appointed by the governor; (2) Two representatives of the private sector appointed by the speaker of the house of representatives; (3) Two representatives of the private sector appointed by the speaker of the senate; (4) Two representatives of the public sector appointed by the governor; (6) One representative of the public sector appointed by the speaker of the house of representatives; and (7) One representative of the public sector appointed by the speaker of the senate. The full text of this bill specifies various organizational and administrative requirements for the reconstituted board, which are substantially similar to the present law requirements for the board. This bill extends the Te
What the bill says
From the amended text:
House Commerce 1 Amendment No. 1 to HB2178 Vaughan Signature of Sponsor AMEND S e n ate Bill No. 2316 House Bill No. 2178* by deleting all language after the enacting clause and substituting: 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 (l). (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 (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 …