HB0396 - Tennessee - Taxes, Sales, Water Resources

Companion Bill SB0480. Taxes, Sales - Earmarks certain sales tax revenues from municipalities that are premier type tourist resorts for construction and maintenance of wastewater facilities and projects. - Amends TCA Section 67-6-103(a)(3)(B). Fiscal Summary for *HB0396 / SB0480Decrease State Revenues - $1,065,000 Increase Local Govt. Revenues: $1,065,000 - Earmarked for the French Broad River Wastewater Pipeline and other specified projects Bill Summary for *HB0396 / SB0480 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. The collective amounts paid under the premier type tourist resort provisions are limited to the [...]

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