T.C.A. § 64-6-101 et seq. provides for the creation of regional megasite authorities which may acquire land and improve, finance, operate, maintain, and market megasites (sites certified as being suitable and available for development for significant economic and industrial development pursuant to T.C.A. § 64-6-103).
Regional megasite authorities may be created by two or more counties and/or municipalities and are set up pursuant to either T.C.A. §§ 64-6-104, 105 or § 64-6-110. Term limits have been imposed on board members regardless of the method of creation. T.C.A. §§ 64-6-105, 110.