The bill that would allow Rutherford County officials to offer developers a special tax incentive package to help secure the proposed Bible Park USA is still waiting approval from the state Legislature.

The Senate bill sponsored by Sen. Jim Tracy (R-Shelbyville) is waiting to be heard by the full Senate as of Tuesday afternoon. The House bill sponsored by Rep. Curt Cobb (D-Shelbyville) passed through the State and Local Government Committee Tuesday and is waiting to be placed on the calendar of the Finance, Ways and Means Committee.

The earliest the bill could be heard by that committee is May 30.

SafeHarbor Holding, a New York-based developer, has proposed building a $200 million historical amusement park on more than 200 acres of undeveloped property near state Route 840 and Interstate 24 in the Blackman community of western unincorporated Murfreesboro. The park would create between 200 and 300 professional jobs and as many as 1,200 seasonal jobs.

Rutherford County economic development officials are hoping to offer the developer tax increment financing to secure the park. This would cause the county to forgo some of its initial property taxes and local-option sales taxes revenues on the improved property to secure the park.

TIF is a method a developer can use to pay down the debt on its capital investment by using a portion of additional taxes created through increased property taxes due to property improvements and local-option sales taxes. A special tax district for the specific project would have to be created.