SB4056 - Tennessee - Property, Taxes

Companion Bill HB4000. Taxes - Levies a tax on property or service at spallation neutron facility that is leased. - Amends TCA Section 67-6-384. Fiscal Summary for SB4056 / *HB4000Increase State Revenue - $474,000 Increase Local Revenue - $152,400 Bill Summary for SB4056 / *HB4000 Present law exempts from sales and use tax the following property and services with respect to a spallation neutron source facility that is funded by the United States government or instrumentality thereof, not funded with any state funds, and located at a national laboratory: (1) Property that becomes a component part of or is used exclusively in the operation or repair of the facility; (2) Services, materials, or items furnished or supplied to the facility and used exclusively in the operation of the facility; and (3) Property, services, [...]

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