SB2099 - Tennessee - Taxes, Severance

Companion Bill HB2339. Taxes, Severance - Replaces coal severence tax of twenty cents per ton of coal with tax measured at 4.5 percent of the gross value of all coal products severed. - Amends TCA Title 67, Chapter 7, Part 1. Fiscal Summary for *SB2099 / HB2339(CORRECTED) Increase State Revenues - Net Impact - $171,300 / Department of Revenue $4,337,000 / Division of Energy (ECD) $929,000 / Tennessee Surface Mine Reclamation Fund Increase State Expenditures - $32,000 - One-Time Increase Local Govt. Revenues - Net Impact - $260,000 Bill Summary for *SB2099 / HB2339 Present law levies a severance tax on all coal products severed from the ground in Tennessee. The measure of the tax is 20 cents per ton on all coal products severed from the ground. This bill changes the measure of the tax to 4.5 percent of [...]

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