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SB 518

Utilities, Utility Districts - As enacted, authorizes certain utility systems to borrow money in anticipation of revenue collections and to issue negotiable notes to evidence such borrowing to provide emergency cash flow for such systems, with oversight of such actions by the comptroller of the treasury; establishes deadline for the payment of such notes. - Amends TCA Section 7-34-111; Section 7-36-113; Section 7-82-501; Section 7-82-702; Section 68-221-1311 and Section 68-221-611.

114th Regular Session (2025-2026)

Allocates a one-time $500,000 General Fund to DNCR to fund a feasibility study on a statewide professional wrestling museum and report findings to the Legislature.

Pub. Ch. 170
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Bill Summary · SB 518

SB 518 — Funds for Professional Wrestling Museum Study

Status: Passed 1st Reading (Introduced Feb 19, 2025)
Subject areas: Appropriations; budgeting; cultural resources; museums; Natural & Cultural Resources Dept.; public reports; sports; studies

Main purpose

SB 518 would fund a feasibility study to examine establishing a professional wrestling museum in the State. The study is intended to evaluate whether a statewide museum dedicated to professional wrestling is viable and to produce findings and recommendations for the legislature.

Key provisions

  • Appropriation: Directs a one‑time (nonrecurring) appropriation of $500,000 from the General Fund to the Department of Natural and Cultural Resources (DNCR) for the purpose of conducting the feasibility study.
  • Scope: The DNCR is charged with studying the feasibility of establishing a professional wrestling museum in the State (the bill text does not specify detailed study components; final study scope would be determined by DNCR).
  • Reporting: Requires DNCR to submit findings and recommendations to the Joint Legislative Oversight Committee on Agriculture and Natural and Economic Resources by a statutory deadline (the version text provided specifies a July 1 reporting date).
  • Effective date / timing: In the 2023 text provided, the act would become effective July 1, 2023 and the report was due by July 1, 2024. The bill information you supplied lists introduction and first reading in 2025; if enacted as reintroduced, effective dates and reporting deadlines may be adjusted in final enactment.

Who is affected

  • Department of Natural and Cultural Resources — assigned to administer and carry out the study and report.
  • State budget / General Fund — one‑time appropriation of $500,000.
  • Potential stakeholders engaged by the study: wrestling organizations, museums and cultural institutions, tourism entities, local governments, economic development agencies, and community groups.
  • The bill does not itself create a museum or authorize construction; it only funds a study and report.

Fiscal impact

  • Direct, one‑time General Fund cost of $500,000 (nonrecurring) for the fiscal year identified in the bill text.
  • No ongoing operational funding or programmatic commitments are made by this bill; subsequent action by the legislature would be required to establish or fund a museum.

Likely outcomes and considerations

  • The study would assess demand, site options, projected costs, economic and tourism impacts, governance/operational models, and potential funding sources (these are typical study elements though not all are specified in the bill).
  • Results could inform future legislative decisions about establishing, funding, or locating a professional wrestling museum.
  • Because the appropriation is nonrecurring and limited to the study, the near‑term fiscal exposure is modest; any museum creation, capital costs, or ongoing operations would require separate legislative or executive action and funding.

If you want, I can draft a concise one‑page briefing for committee members highlighting likely study tasks (market analysis, capital cost estimates, operating model options) and a sample timeline for DNCR to complete the work.

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

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