Farm Bureau Supports Rural Brownfields Investment Act
SB271 | HB319 would establish a state-administered brownfield grant program (BRAG Program) to direct funding for investigation, assessment and remediation to local governments, economic development agencies, development districts or boards, county land banks and nonprofit organizations. The goal is to incentivize brownfield cleanup in smaller, rural communities and expand the Brownfield Franchise and Excise Tax Credit to cover both purchase AND remediation costs.
Previously, this program only applied to urban areas. However, this legislation would allow for Tier 3 and Tier 4 enhancement counties (as acknowledged by the Tennessee Department of Economic and Community Development and includes portions of West Tennessee and the Cumberland Plateau, among other rural parts of Tennessee) to also receive these grants.
“Our mission is to develop, foster, promote and protect Tennessee agriculture. As farmland loss continues to be a growing statewide concern, Tennessee Farm Bureau Federation is honored to support the Rural Brownfields Investment Act (SB271/HB319),” said TFBF President Eric Mayberry. “By restoring use and value to brownfields, this investment boosts economic development in our rural communities. We trust this will be a step in reducing farmland conversion pressures and ensuring agriculture, and the land farmers care for, will continue to be Tennessee’s leading industry as the state continues to grow.”