Industrial Development - As enacted, revises law relative to industrial development corporations. - Amends TCA Title 7 and Title 48.

HB 1878 allows Tennessee industrial development corporations to merge with other corporations using procedures already established for public benefit corporations under Tennessee law (Title 48, Chapter 61). This change directly affects industrial development corporations, enabling their boards to pursue mergers more efficiently to support economic development goals. The bill amends Tennessee Code Sections 7-53-103 and 48-61-101 to clarify this merger authority. It does not create new programs or impact specific communities or industries beyond these corporations' operational flexibility. The legislation focuses solely on streamlining the legal process for corporate mergers within the existing nonprofit framework.