HB0770 - Tennessee - Taxes, Taxes, Privilege, Taxes, Sales

Companion Bill SB0667. Taxes - Imposes occupational privilege taxes on performers at adult cabarets, increases sales taxes on certain adult materials and products; reduces sales taxes on certain foods. - Amends TCA Title 67, Chapter 4, Part 17; Title 67, Chapter 6; Section 67-6-102 and Section 67-6-228(a). Fiscal Summary for HB0770 / *SB0667Decrease State Revenues - Net Impact $56,455,000 / General Fund $126,620,000 / Education Fund $11,223,000 / Earmarked to Local Governments $715,000 / Department of Revenue $1,787,000 / Sinking Fund Increase State Expenditures - $11,223,000 Recurring (Hold harmless provision) $238,000 Recurring $162,000 One-Time Decrease Local Govt. Revenues - $236,000 Other Fiscal Impact - Additional decreases to state revenues estimated [...]

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