Encouraging More Cooperation and Accountability in Payment in Lieu of Tax Agreements
The Tennessee Advisory Commission on Intergovernmental Relations (TACIR) concluded its report Encouraging More Cooperation and Accountability in Payment in Lieu of Tax Agreements at its January 2018 meeting. The report was required by Public Chapter 431, Acts of 2017, which directed the Commission to study issues related to the economic benefits to counties and municipalities from the use of payment in lieu of ad valorem tax agreements (PILOTs) and leases by industrial development corporations organized by municipalities. The final report makes several recommendations for encouraging cooperation, accountability, and transparency in PILOT agreements. It also includes recommendations to help ensure that education funding is not adversely affected by PILOT agreements. The report is available on the Commission’s web site at https://www.tn.gov/tacir/tacir-publications.html.