TN HB0993

Requires industrial development corporation boards to include at least 7 members elected by the municipality's governing body, with all corporate powers vested in the board

Mandates two ex officio non-voting members: the county property assessor and the county trustee (or deputy trustee), whose terms run concurrently with their elected offices

Prohibits municipal employees from serving as directors and specifies directors serve without compensation, except for reimbursement of actual expenses unless local ordinance authorizes otherwise

Establishes staggered 6-year terms for directors, with initial terms divided into 2-year, 4-year, and 6-year groups; directors continue serving until a successor is elected

Takes effect July 1, 2025