TN HB1364

Creates the "Small Business Recovery Grant Fund" within the state treasury, administered by the Department of Economic and Community Development, funded through legislative appropriations and donations

Provides grants to small businesses in arts, cultural, or hospitality industries to cover 3-6 months of eligible costs (payroll, rent/mortgage, insurance, utilities, property repairs) incurred due to extenuating circumstances

Limits eligibility to independent, for-profit businesses with no more than 15 full-time employees, gross receipts under $1,000,000 averaged over three years, and a single physical location in Tennessee

Defines "extenuating circumstances" as unforeseeable events like violent acts (e.g., shootings) or nearby construction disrupting business, but explicitly excludes declared emergencies and COVID-19

Requires annual reporting to legislative committees beginning January 1, 2026, with the act taking effect July 1, 2025