SB4033 - Tennessee - Alcoholic Beverages, Revenue, Dept. Of, Taxes, Sales, Titles, Short

Companion Bill HB3909. Taxes, Sales - Enacts "Cumberland River Resort District Act of 2008." - Amends TCA Title 57, Chapter 4, Part 1 and Title 67, Chapter 6. Fiscal Summary for SB4033 / *HB3909Decrease State Revenue - Net Impact - $197,000 Increase Local Revenue - Net Impact - $593,000 Bill Summary for SB4033 / *HB3909 SALES AND USE TAX DISTRIBUTION 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 in the first quartile of economic distress in the U.S. for fiscal year 2008-2009 that borders or is crossed by the Cumberland River may elect to be a "Cumberland River resort district" [...]

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