HB3885 - Tennessee - Alcoholic Beverages, Taxes, Sales

Companion Bill SB3972. Taxes, Sales - Broadens eligibility for Tennessee River resort district status. - Amends TCA Section 57-4-102 and Section 67-6-103. Fiscal Summary for *HB3885 / SB3972Decrease State Revenue - $170,000 Increase State Expenditures - $6,000/One-Time Increase Local Revenue - $170,000/Polk County Bill Summary for *HB3885 / SB3972 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. Present law also provides for an alternate distribution for counties in the first quartile of economic distress in the U.S. for fiscal year 2006 which borders or is crossed by the Tennessee River that elect to be a "Tennessee [...]

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