Local Government, General - As enacted, establishes the "Residential Infrastructure Development Act of 2024." - Amends TCA Title 7, Chapter 84; Title 9, Chapter 21; Title 66, Chapter 5 and Title 67.

HB 2368, which became the Residential Infrastructure Development Act of 2024, creates a new legal process for local governments in Tennessee to form independent special districts. These districts allow developers and municipalities to fund and finance necessary infrastructure projects, such as roads, water systems, and land dedications, through special assessments on property owners within the development area. The law provides a uniform procedure for establishing these districts and collecting funds, offering an alternative to traditional municipal funding methods while ensuring that infrastructure costs are tied directly to the properties benefiting from the improvements.