Tenn. Code § 4-3-736
The state delegates to the department of economic and community development the authority to allocate on behalf of the state the portions of the national recovery zone economic development bond limitation and the national recovery zone facility bond limitation, as the national recovery zone economic development bond limitation and the national recovery zone facility bond limitation are defined in § 1400U-1 of the Internal Revenue Code of 1986 (26 U.S.C. § 1400U-1), that are allocated to the state pursuant to § 1400U-1(a)(1) of the Internal Revenue Code of 1986 (26 U.S.C. § 1400U-1(a)(1)), among the counties and large municipalities, as defined in § 1400U-1(a)(3)(B) of the Internal Revenue Code of 1986 (26 U.S.C. § 1400U-1(a)(3)(B)), in the manner provided in § 1400U-1(a)(3) of the Internal Revenue Code of 1986 (26 U.S.C. § 1400U-1(a)(3)).
T.C.A. § 4-3-736