Amends TCA Section 67-4-504.

This bill authorizes a municipality with the characteristics described below, by two-thirds vote of its legislative body, to levy a privilege tax not to exceed two percent of the consideration charged by restaurants located in such municipality that made total sales to consumers in this state of $200,000 or more during the previous 12-month period. The full text of this bill specifies notice and other procedural requirements that will have to be met before the privilege tax may be imposed. All of the proceeds from the privilege tax must be used for payment of debt service incurred by the municipality for capital outlay purposes. This bill will only apply to a municipality that: (1) Has a state park located within the corporate limits of the municipality; (2) Is located within three miles of an off-highway vehicle trail area authorized by the TWRA; and (3) Has established off-highway vehicle access trails allowing the operation of off-highway vehicles on municipal streets. Currently, Jellico meets the above description. This bill's authorization to levy a privilege tax is repealed July 1, 2031.