HB 2178

Present law establishes a 22-member board of directors for the Tennessee technology development corporation, which includes the following 21 appointees: (1) Three representatives of the private sector appointed by the governor; (2) Two representatives of the private sector appointed by the speaker of the house of representatives (3) Two representatives of the private sector appointed by the speaker of the senate; (4) Seven representatives from the private sector nominated by the board of directors' nominating committee and approved by majority vote of the board of directors; (5) Three representatives of the public sector appointed by the governor; (6) Two representatives of the public sector appointed by the speaker of the house of representatives; and (7) Two representatives of the public sector appointed by the speaker of the senate. Effective July 1, 2026, this bill vacates and reconstitutes the board as a 12-member board that includes the following 11 appointees: (1) Th ree representatives of the private sector appointed by the governor; (2) Two representatives of the private sector appointed by the speaker of the house of representatives ; (3) Two representatives of the private sector appointed by the speaker of the senate ; ( 4 ) T wo representatives of the public sector appointed by the governor ; ( 6 ) One representative of the public sector appointed by the speaker of the house of representatives ; and ( 7 ) One representative of the public sector appointed by the speaker of the senate . The full text of this bill specifies various organizational and administrative requirements for the reconstituted board, which are substantially similar to the present law requirements for the board. This bill extends the Tennessee technology development corporation to June 30, 2028.