House Bill 2178 aims to amend the governance structure of the Tennessee Technology Development Corporation by reconstituting it with a new twelve-member board of directors, effective July 1, 2026. The board will consist of seven private sector representatives appointed by the governor, the speaker of the house, and the speaker of the senate, as well as four public sector representatives appointed similarly. The bill outlines the appointment process, initial terms of service for board members, and the establishment of an executive committee to manage day-to-day operations. Additionally, it mandates the adoption of a conflict of interest policy for board members, requiring annual disclosures and acknowledgments of understanding.

The bill also includes a deletion of subdivision (57) from Tennessee Code Annotated, Section 4-29-248(a), and adds a new subdivision to Section 4-29-249(a) to formally recognize the Tennessee Technology Development Corporation. This legislative change is intended to enhance the governance and operational efficiency of the corporation while ensuring accountability through the conflict of interest policy. The act will take effect upon becoming law.

Statutes affected:
Introduced: 4-14-203, 4-29-248(a), 4-29-248, 4-29-249(a), 4-29-249