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SB 1009

Economic and Community Development, Dept. of - As introduced, creates the small business recovery grant fund, to be administered by the department, to assist eligible small businesses temporarily with costs incurred as a result of extenuating circumstances. - Amends TCA Title 4; Title 9; Title 50 and Title 67.

114th Regular Session (2025-2026) Introduced by Charlane Oliver

Creates Tennessee small business recovery grant fund to provide temporary financial assistance to eligible businesses facing unexpected costs from extenuating circumstances.

Assigned to General Subcommittee of Senate Commerce and Labor Committee
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Bill Summary · SB 1009

Legislative bill overview

SB 1009 establishes a small business recovery grant fund administered by Tennessee's Department of Economic and Community Development to provide temporary financial assistance to eligible small businesses facing costs from extenuating circumstances. The bill modifies multiple sections of Tennessee Code Annotated related to economic development, business regulations, taxation, and administrative procedures.

Why is this important

Small businesses are often vulnerable to unexpected disruptions—whether from natural disasters, economic downturns, or other emergencies—and may lack financial reserves to absorb sudden costs. A dedicated grant fund could help prevent business closures and job losses during difficult periods, while also supporting community economic stability and tax base preservation.

Potential points of contention

  • Eligibility criteria unclear: The bill language doesn't specify what constitutes "eligible" businesses or define "extenuating circumstances," leaving significant discretion to the administering department and potentially creating inconsistent application or perceptions of favoritism
  • Funding source not identified: The bill doesn't specify where grant money originates, raising questions about whether it requires new appropriations, diverts existing funds, or relies on loan repayment mechanisms
  • Scope of "temporary" assistance undefined: Without clear parameters on grant amounts, duration, or frequency, businesses might have competing expectations about support levels, and the state's long-term financial commitment remains ambiguous

Compiled from official sources — confirm details with the bill’s official record.

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