As used in this chapter, unless the context otherwise requires:

(1) “Active plan” means a plan that is currently producing tax increment revenues;
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Terms Used In Tennessee Code 9-23-102

  • Commissioner: means the commissioner of economic and community development. See Tennessee Code 9-23-102
  • Community redevelopment agency: means a community redevelopment agency created by or designated pursuant to the CRA Act. See Tennessee Code 9-23-102
  • Comptroller: means the comptroller of the treasury. See Tennessee Code 9-23-102
  • Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
  • CRA Act: means the Community Redevelopment Act of 1998, as amended, being 1998 Public Chapter No. See Tennessee Code 9-23-102
  • Housing authority: means a housing authority organized in accordance with title 13, chapter 20, or any public entity exercising the redevelopment powers of a housing authority pursuant to such chapter. See Tennessee Code 9-23-102
  • Industrial development corporation: means any industrial development corporation organized pursuant to title 7, chapter 53. See Tennessee Code 9-23-102
  • Municipality: means any county, metropolitan government or incorporated city or town in this state. See Tennessee Code 9-23-102
  • Plan: means a redevelopment plan approved pursuant to title 13, chapter 20, an economic impact plan approved pursuant to title 7, chapter 53, or a community redevelopment plan approved pursuant to the CRA Act. See Tennessee Code 9-23-102
  • Plan area: means the area identified in any plan as being subject to such plan. See Tennessee Code 9-23-102
  • Property: includes both personal and real property. See Tennessee Code 1-3-105
  • State: when applied to the different parts of the United States, includes the District of Columbia and the several territories of the United States. See Tennessee Code 1-3-105
  • Statute: A law passed by a legislature.
  • Tax increment agency: means a housing authority, industrial development corporation and/or community redevelopment agency. See Tennessee Code 9-23-102
  • Tax increment revenues: means incremental property tax revenues to be allocated by a taxing agency to a tax increment agency pursuant to a tax increment statute and this chapter. See Tennessee Code 9-23-102
  • Taxing agency: means any county, city, town, metropolitan government or other public entity that levies property taxes on property within a plan area and that has approved the plan. See Tennessee Code 9-23-102
  • Year: means a calendar year, unless otherwise expressed. See Tennessee Code 1-3-105
(2) “Base taxes” means the property taxes, if any, that were levied by a taxing agency and payable with respect to the property within a plan area (other than any portion of such taxes that is a debt service amount) for the year prior to the date the plan was approved;
(3)

(A) “Best interest of the state” for purposes of approving payment or expenditure of funds, or financing the cost of a privately-owned project with tax increment revenues, means the project would not have occurred but for the payment, expenditure or financing;
(B) For purposes of an extended plan term, “best interest of the state” means an extended plan term or term extension is reasonably required for plan completion;
(4) “Chief financial officer” with respect to a taxing agency means the officer or employee of a taxing agency that is responsible for overseeing the budget and finances of such taxing agency or such other officer or employee as may be designated by the taxing agency for purposes of this chapter;
(5) “Community redevelopment agency” means a community redevelopment agency created by or designated pursuant to the CRA Act;
(6) “Commissioner” means the commissioner of economic and community development;
(7) “Comptroller” means the comptroller of the treasury;
(8) “CRA Act” means the Community Redevelopment Act of 1998, as amended, being 1998 Public Chapter No. 987, which act has not been codified;
(9) “Dedicated taxes” means that portion of property taxes, if any, designated by a taxing agency to pay debt service on the taxing agency’s debt;
(10) “Governing body” means the board or body in which the general legislative powers of a municipality or taxing agency are vested;
(11) “Housing authority” means a housing authority organized in accordance with title 13, chapter 20, or any public entity exercising the redevelopment powers of a housing authority pursuant to such chapter;
(12) “Industrial development corporation” means any industrial development corporation organized pursuant to title 7, chapter 53;
(13) “Municipality” means any county, metropolitan government or incorporated city or town in this state;
(14) “Plan” means a redevelopment plan approved pursuant to title 13, chapter 20, an economic impact plan approved pursuant to title 7, chapter 53, or a community redevelopment plan approved pursuant to the CRA Act;
(15) “Plan area” means the area identified in any plan as being subject to such plan;
(16) “Public infrastructure” shall mean roads, streets, publicly-owned or privately-owned parking lots, facilities or garages, traffic signals, sidewalks or other public improvements that are available for public use, utility improvements and storm water and drainage improvements, whether or not located on public property or a publicly-dedicated easement, that are necessary or desirable, as determined by the tax increment agency;
(17) “Tax increment agency” means a housing authority, industrial development corporation and/or community redevelopment agency;
(18) “Tax increment revenues” means incremental property tax revenues to be allocated by a taxing agency to a tax increment agency pursuant to a tax increment statute and this chapter;
(19) “Tax increment statutes” means title 7, chapter 53, title 13, chapter 20 and the CRA Act; and
(20) “Taxing agency” means any county, city, town, metropolitan government or other public entity that levies property taxes on property within a plan area and that has approved the plan.
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