TN HB2375

Creates the "Greenbelt Initiative Fund Transfer (GIFT) Act" establishing a rural revenue equity fund with a recurring annual appropriation of $210,000,000 from the state general fund

Eligible rural counties (those outside metropolitan statistical areas) may use funds for capital improvements, infrastructure, law enforcement, fire/EMS services, or property tax stabilization

Fund allocations are determined by a weighted scoring formula prioritizing counties with more greenbelt-classified land (25%), higher agricultural sales (20%), greater percentage of greenbelt land (15%), and lack of authority to levy development taxes (15%)

Commissioner of Economic and Community Development administers the fund and must submit annual expenditure reports to the governor and legislative leadership

Unspent funds carry forward each fiscal year and cannot revert to the general fund; the state treasurer invests fund moneys with interest remaining in the fund