HB0617 - Tennessee: Regional Authorities And Special Districts, Taxes, Sales, Titles, Short

Companion Bill SB1384. Regional Authorities and Special Districts - Enacts "Cumberland River Resort District Act of 2007." - Amends TCA Title 57, Chapter 4, Part 1 and Title 67, Chapter 6, Part 1. Fiscal Summary for *HB0617 / SB1384Decrease State Revenues - $43,300,000 Increase Local Govt. Revenues - $21,650,000 / General Purposes $21,650,000 / Earmarked for tourism Bill Summary for *HB0617 / SB1384 Under present law, 4.2462 percent of sales and use tax revenue is distributed to incorporated municipalities based on the municipalities' population. Present law provides for alternate distribution calculations for municipalities classified as premier type tourist resorts. This bill adds that a county bordering on or crossed by the Cumberland River may elect to be a "Cumberland River resort district" for sales and use [...]

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