Public Funds and Financing - As introduced, enacts the "Greenbelt Initiative Fund Transfer (GIFT) Act," which creates the rural revenue equity fund; authorizes the commissioner of economic and community development to distribute amounts from the fund to rural counties based on certain agricultural, demographic, and fiscal criteria, including greenbelt acreage. - Amends TCA Title 4; Title 5; Title 6; Title 7; Title 9 and Title 67.

SB 2480 creates a $210 million annual "rural revenue equity fund" to support Tennessee counties classified as rural. Funds are distributed based on a scoring system evaluating agricultural land area, farm sales, county population, and other factors like lack of development tax authority. Rural counties must apply to receive funds, which can only be used for infrastructure, emergency services, capital projects, or property tax stabilization. The money comes directly from the state general fund, with unspent balances carried forward annually.