# Tennessee HB 1407: AN ACT to authorize the state of Tennessee, acting by resolutions of its funding board, to issue and sell its bonds and bond anticipation notes to provide for acquisition of equipment and sites, and erection, construction, and equipment of sites and buildings, expressly including the acquisition of existing structures for expansion, improvements, betterments, and extraordinary repairs to existing structures, for construction of highways, and repair, replacement, or rehabilitation of bridges, and for grants to any county, metropolitan government, incorporated town, city, special district of the state, or any governmental agency or instrumentality of any of them; to make grants to industrial development corporations to provide for acquisition of equipment and acquisition, site preparation, erection, construction, and equipment of sites and buildings; and infrastructure improvements and development; to issue its debt in excess of the authorized amount to fund discount and costs of issuance; and to provide for the expenditure of said funds. This act makes appropriations for an indefinite period of time for the purpose of allocating the proceeds of the bonds and notes authorized by this act.

Tennessee HB 1407, AN ACT to authorize the state of Tennessee, acting by resolutions of its funding board, to issue and sell its bonds and bond anticipation notes to provide for acquisition of equipment and sites, and erection, construction, and equipment of sites and buildings, expressly including the acquisition of existing structures for expansion, improvements, betterments, and extraordinary repairs to existing structures, for construction of highways, and repair, replacement, or rehabilitation of bridges, and for grants to any county, metropolitan government, incorporated town, city, special district of the state, or any governmental agency or instrumentality of any of them; to make grants to industrial development corporations to provide for acquisition of equipment and acquisition, site preparation, erection, construction, and equipment of sites and buildings; and infrastructure improvements and development; to issue its debt in excess of the authorized amount to fund discount and costs of issuance; and to provide for the expenditure of said funds. This act makes appropriations for an indefinite period of time for the purpose of allocating the proceeds of the bonds and notes authorized by this act., is a 114th General Assembly (2025-2026) House bill sponsored by no sponsor on record; status signed, last action 2025-05-27 (Effective date(s) 05/21/2025) (as of 2026-11-01).

- Canonical: https://policyrisk.com/state-bill/TN-HB1407-2025-2026
- As of: 2026-11-01
- Plain-text twin of the page above; the HTML and this file carry the same facts.

## Facts
- Bill: Tennessee HB 1407
- State: Tennessee
- Session: 114th General Assembly (2025-2026)
- Title: AN ACT to authorize the state of Tennessee, acting by resolutions of its funding board, to issue and sell its bonds and bond anticipation notes to provide for acquisition of equipment and sites, and erection, construction, and equipment of sites and buildings, expressly including the acquisition of existing structures for expansion, improvements, betterments, and extraordinary repairs to existing structures, for construction of highways, and repair, replacement, or rehabilitation of bridges, and for grants to any county, metropolitan government, incorporated town, city, special district of the state, or any governmental agency or instrumentality of any of them; to make grants to industrial development corporations to provide for acquisition of equipment and acquisition, site preparation, erection, construction, and equipment of sites and buildings; and infrastructure improvements and development; to issue its debt in excess of the authorized amount to fund discount and costs of issuance; and to provide for the expenditure of said funds. This act makes appropriations for an indefinite period of time for the purpose of allocating the proceeds of the bonds and notes authorized by this act.
- Status: signed
- Chamber: House
- Introduced: 2025-02-14
- Last action: 2025-05-27, Effective date(s) 05/21/2025
- Sponsors: no sponsor on record
- Cosponsors: 5
- Subjects: Bond Issues
- Touches household money: no
- Roll calls: 5 (163 yes, 2 no in all)
- Economic provisions PRIA read: 4

## Summary

No summary available.

## Bill overview: provisions PRIA read

- Tennessee funds buildings and local projects: benefit, medium. The law allocates $820.547 million to Finance and Administration for public facilities, equipment, land, improvements, and major repairs. This allocation also supports public-purpose grants to eligible counties, cities, towns, metropolitan governments, special districts, and their government agenci…
- State tax exemption for bond investors: benefit, low. Bonds and temporary bond anticipation notes issued under this law are exempt from Tennessee state and local taxes. Their interest is also exempt from those taxes. The exemption does not cover inheritance, transfer, or estate taxes.
- Tennessee funds highway and bridge work: benefit, low. The law allocates $80 million in bond proceeds to Tennessee's Department of Transportation. The money pays for highway construction and bridge repair, replacement, or rehabilitation. It also supports equipment, land, facilities, expansion, improvements, and major building repairs. The law does not…
- Tennessee authorizes more state borrowing: cost, high. The law authorizes up to $1.034547 billion in state bonds, plus up to 2.5% more for discounts and issuance costs. Tennessee pledges its full faith and credit to repay the debt. Before issuing bonds, lawmakers must fund the first year's principal and interest, and the Funding Board must confirm fund…

## Sponsors and cosponsors

- Cosponsor: Rush Bricken (Republican), House
- Cosponsor: Mark Cochran (Republican), House
- Cosponsor: Gary Hicks (Republican), House
- Cosponsor: Bud Hulsey (Republican), House
- Cosponsor: Ryan Williams (Republican), House

## Roll call votes

| Date | Chamber | Motion | Result | Yes | No | Other |
| --- | --- | --- | --- | --- | --- | --- |
| 2025-04-16 | Senate | FLOOR VOTE: Third Consideration 4/16/2025 | pass | 33 | 0 |   |
| 2025-04-16 | House | HOUSE CALENDAR & RULES COMMITTEE | fail | 0 | 0 |   |
| 2025-04-16 | House | FLOOR VOTE: APPROPRIATIONS CALENDAR AS AMENDED PASSAGE ON THIRD CONSIDERATION 4/16/2025 | pass | 91 | 2 |   |
| 2025-04-15 | House | HOUSE FINANCE, WAYS, AND MEANS COMMITTEE | pass | 26 | 0 |   |
| 2025-04-15 | House | HOUSE FINANCE, WAYS, AND MEANS SUBCOMMITTEE | pass | 13 | 0 |   |

## Actions (26)

- 2025-05-27: Effective date(s) 05/21/2025
- 2025-05-27: Pub. Ch. 528
- 2025-05-21: Signed by Governor.
- 2025-05-09: Transmitted to Governor for his action. (House)
- 2025-05-08: Signed by Senate Speaker (Senate)
- 2025-04-30: Signed by H. Speaker (House)
- 2025-04-29: Enrolled; ready for sig. of H. Speaker. (House)
- 2025-04-16: Passed Senate, Ayes 33, Nays 0 (Senate)
- 2025-04-16: Amendment withdrawn. (Amendment 1 - SA0424) (Senate)
- 2025-04-16: Senate substituted House Bill for companion Senate Bill. (Senate)
- 2025-04-16: Received from House, Passed on First Consideration (Senate)
- 2025-04-16: Engrossed; ready for transmission to Sen. (House)
- 2025-04-16: Passed H., as am., Ayes 91, Nays 2, PNV 2 (House)
- 2025-04-16: Sponsor(s) Added. (House)
- 2025-04-16: H. adopted am. (Amendment 1 - HA0444) (House)
- 2025-04-15: H. Placed on Appropriations Calendar for 4/16/2025 (House)
- 2025-04-15: Placed on cal. Calendar & Rules Committee for 4/15/2025 (House)
- 2025-04-15: Rec. for pass. if am., ref. to Calendar & Rules Committee (House)
- 2025-04-15: Placed on cal. Finance, Ways, and Means Committee for 4/15/2025 (House)
- 2025-04-15: Rec for pass if am by s/c ref. to Finance, Ways, and Means Committee (House)
- 2025-04-09: Placed on s/c cal Finance, Ways, and Means Subcommittee for 4/14/2025 (House)
- 2025-02-24: Assigned to s/c Finance, Ways, and Means Subcommittee (House)
- 2025-02-24: P2C, ref. to Finance, Ways, and Means Committee (House)
- 2025-02-20: Intro., P1C. (House)
- 2025-02-18: Sponsor(s) Added. (House)
- 2025-02-14: Filed for introduction (House)

## Bill text

- HA0444, 2025-04-16: [PDF](https://capitol.tn.gov/Bills/114/Amend/HA0444.pdf)
- Enrolled / Public Chapter: [PDF](https://publications.tnsosfiles.com/acts/114/pub/pc0528.pdf)
- Fiscal Note: [PDF](https://capitol.tn.gov/Bills/114/Fiscal/SB1430.pdf)
- Introduced: [PDF](https://capitol.tn.gov/Bills/114/Bill/HB1407.pdf)
- SA0424: [PDF](https://capitol.tn.gov/Bills/114/Amend/SA0424.pdf)

## Related bills

- HB 1380: AN ACT to amend Tennessee Code Annotated, Title 67, Chapter 5, Part 7, relative to property tax relief for elderly persons. (failed)
- HB 1346: AN ACT to amend Tennessee Code Annotated, Title 40, Chapter 32, Part 1, relative to expunction of criminal records. (failed)
- HB 0794: AN ACT to amend Tennessee Code Annotated, Title 4; Title 5; Title 6; Title 7; Title 8; Title 12; Title 13; Title 29; Title 54; Title 64; Title 65; Title 68 and… (failed)
- HB 0489: AN ACT to amend Tennessee Code Annotated, Title 38; Title 39; Title 40 and Title 55, relative to criminal law. (failed)
- HB 0162: AN ACT to amend Tennessee Code Annotated, Title 67, relative to taxes. (failed)
- SB 2733: AN ACT to amend Chapter 33 of the Private Acts of 1985; as amended by Chapter 85 of the Private Acts of 2004; and any other acts amendatory thereto, relative t… (failed)

## Sources
- [HA0444 (PDF)](https://capitol.tn.gov/Bills/114/Amend/HA0444.pdf)
- [Enrolled / Public Chapter (PDF)](https://publications.tnsosfiles.com/acts/114/pub/pc0528.pdf)
- [Fiscal Note (PDF)](https://capitol.tn.gov/Bills/114/Fiscal/SB1430.pdf)
- [Introduced (PDF)](https://capitol.tn.gov/Bills/114/Bill/HB1407.pdf)
- [SA0424 (PDF)](https://capitol.tn.gov/Bills/114/Amend/SA0424.pdf)

## Related
- [HB 1380: AN ACT to amend Tennessee Code Annotated, Title 67, Chapter 5, Part 7, relative…](https://policyrisk.com/state-bill/TN-HB1380-2025-2026)
- [HB 1346: AN ACT to amend Tennessee Code Annotated, Title 40, Chapter 32, Part 1, relativ…](https://policyrisk.com/state-bill/TN-HB1346-2025-2026)
- [HB 0794: AN ACT to amend Tennessee Code Annotated, Title 4; Title 5; Title 6; Title 7; T…](https://policyrisk.com/state-bill/TN-HB0794-2025-2026)
- [HB 0489: AN ACT to amend Tennessee Code Annotated, Title 38; Title 39; Title 40 and Titl…](https://policyrisk.com/state-bill/TN-HB0489-2025-2026)
- [HB 0162: AN ACT to amend Tennessee Code Annotated, Title 67, relative to taxes.](https://policyrisk.com/state-bill/TN-HB0162-2025-2026)
- [SB 2733: AN ACT to amend Chapter 33 of the Private Acts of 1985; as amended by Chapter 8…](https://policyrisk.com/state-bill/TN-SB2733-2025-2026)
- [Tennessee bills](https://policyrisk.com/states/tennessee/bills)
- [Tennessee state hub](https://policyrisk.com/states/tennessee)
- [All state legislation](https://policyrisk.com/state-bills)

Source: PRIA, https://policyrisk.com/state-bill/TN-HB1407-2025-2026 (as of 2026-11-01).