Economic and Community Development - As introduced, creates a condition of eligibility for certain economic development incentives that employers certify that they pay employees working on the development project for which the incentive was granted at least $21.99 an hour beginning July 1, 2026, with annual adjustments thereafter by the commissioner of economic and community development based on the MIT living wage calculator; allows for recovering from employers found to be in violation of such wage requirements the incentives already provided. - Amends TCA Title 4 and Title 50.

SB 2505 requires employers receiving Tennessee's economic development incentives (like FastTrack grants or capital grants) to certify they pay workers on the project at least $21.99 per hour starting July 1, 2026. The wage rate will automatically increase annually based on the MIT living wage calculator for a household with two adults, one working, and two children in the project's county. Employers who fail to meet this standard risk having their incentives recovered by the state. This policy directly affects businesses seeking state economic development funding, ensuring those projects provide higher wages to workers.