WeVote
Log In

Bill

Bill

HB 1364

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 Jesse Chism

Tennessee bill creates small business recovery grant fund to assist eligible small businesses facing temporary hardship from extenuating circumstances, administered by Economic and Community Development Department.

P2C, ref. to Commerce Committee- Government Operations for Review
#dept.of #economicandcommunitydevelopment
0
WeVote Research Nonpartisan
Bill Summary · HB 1364

Legislative bill overview

HB 1364 establishes a small business recovery grant fund administered by Tennessee's Department of Economic and Community Development to provide financial assistance to eligible small businesses facing temporary hardships from extenuating circumstances. The bill modifies multiple sections of Tennessee code related to economic development, taxation, and business regulations to implement this program.

Why is this important

Small businesses are vital to local economies and job creation, but unexpected crises—whether natural disasters, public health emergencies, or economic shocks—can force closures or significant financial strain. A dedicated recovery fund provides a targeted safety net that could help viable businesses survive temporary disruptions without taking on debt or permanent layoffs, potentially preserving jobs and community economic stability.

Potential points of contention

  • Eligibility criteria undefined: The bill doesn't specify what constitutes "extenuating circumstances" or which businesses qualify, leaving substantial discretion to the administering department and creating uncertainty about fairness and access
  • Funding source not identified: The bill doesn't indicate how the grant fund will be financed (general revenue, dedicated tax, federal funds), raising questions about fiscal impact and sustainability
  • Accountability mechanisms unclear: Without defined performance metrics, audit requirements, or reporting standards, there's limited transparency on whether grants achieve their intended economic outcomes or prevent misuse

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

Sign in to ask a question.