Amends TCA Title 67.

This bill phases in a sales tax exemption for the sales price of tickets for admission to an intercollegiate athletic event hosted by a college or university, as follows:<br /> <br /> (1) For the 2019-2020 fiscal year, the ticket sales will be taxed at two-thirds of the sales tax rate;<br /> (2) For the 2020-2021 fiscal year, the ticket sales will be taxed at one-third of the sales tax rate; and<br /> (3) For the 2021-2022 fiscal year and fiscal years thereafter, there will not be a sales tax on the ticket sales.<br /> <br /> This bill requires that the college or university retain and use the proceeds generated from ticket sales for reinvestment in the venue where the intercollegiate athletic event was conducted and to support college or university programs. The proceeds from ticket sales retained by a college or university pursuant to this bill must be spent on expenses, including, but not limited to, repairs, maintenance, renovation, debt service, scholarships for student athletes, and any costs associated with Title IX compliance under federal law.<br /> <br />