SB1115 - Tennessee: County Officers, Municipal Government, Revenue, Taxes

Companion Bill HB1773. Taxes - Provides that, with respect to certain municipalities, state shared tax revenues shall be paid directly to the municipality in lieu of paying such revenues indirectly through the county trustee to the municipality. - Amends TCA Title 9, Chapter 4. Fiscal Summary for *SB1115 / HB1773 Increase State Expenditures - $29,000/One-Time Other Fiscal Impact - There would be no net change in local government revenues according to the provisions of this bill. There would be a shift of approximately $1,650,000 from Shelby County to municipalities within the county during FY07-08 and a shift of approximately $2,750,000 in FY08-09 and thereafter. Bill Summary for *SB1115 / HB1773 This bill requires that all state-shared taxes and state-collected revenues that are allocated by law to any municipality in Shelby County be paid [...]

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