Amends TCA Title 67, Chapter 6.

This bill makes permanent the removal of the cap on the amount of state shared sales tax revenue remitted to premiere type tourist resort municipalities. Under the present law provisions governing the distribution of sales and use tax revenue, certain premier type tourist resorts (which include Sevierville and Gatlinburg) may elect to receive 4.6030 percent of the tax actually collected and remitted by dealers within the boundaries of such resort, instead of the standard distribution provided for under present law. The collective amounts paid under those provisions are capped at the collective amounts paid under the provisions for the 1999-2000 fiscal year. In 2017, the legislature suspended application of the cap in the 2017-2018 fiscal year through the 2020-2021 fiscal year. This bill completely removes the cap on the amount of state shared sales tax remitted to premiere type tourist resorts as described above.