Industrial Development - As enacted, redefines "remediation site" to include a 501(c)(3) nonprofit entity whose main purpose is to promote industrial development and new nuclear development upon dissolution of the existing nonprofit entity. - Amends TCA Title 7, Chapter 53, Part 3.

HB 672 amends Tennessee law to require that when an industrial development corporation dissolves, its land must be transferred to a 501(c)(3) nonprofit entity focused on promoting industrial development and new nuclear energy. This change updates the disposition rules for dissolved corporations' land, directly affecting industrial development corporations and the nonprofits that will receive the property. The bill specifies that the recipient nonprofit must have "main purpose" tied to industrial and nuclear development, ensuring land continues supporting these sectors. The amendment takes effect upon becoming law.