HB0266 - Tennessee - Hotels And Restaurants, Taxes, Sales

Taxes, Sales - Caps state sales tax on lodging services at rate of 7 percent; allocates 2 percent of revenue collected in jurisdiction to such jurisdiction for payment of 50 percent of debt service on certain qualified public use facilities. - Amends TCA Section 67-6-205. Fiscal Summary for *HB0266Other Fiscal Impact - The fiscal impact of this bill is dependent upon construction (for the QPUF in Davidson County) being contingent upon this legislation. If the QPUF would be built regardless of the outcome of this legislation, then the fiscal impact is considered a decrease to state revenues estimated to be $14.0 million per year; local government revenues would increase by $14.0 million per year, with this amount being earmarked for debt incurred to construct the QPUF. If construction of the QPUF is contingent upon passage of this legislation, then the fiscal impact is considered foregone state revenues estimated to be $14.0 million per year; local government revenues [...]

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