Amends TCA Title 67, Chapter 6.
From July 1, 2024, until July 1, 2029, this bill requires the 11 fastest-growing counties to receive an amount equal to 2.83 percent of the state sales tax revenue actually collected and remitted by dealers within the boundaries of the county. The department of revenue must determine the fastest-growing counties based on the numeric population increase over the previous two years, according to United States census bureau population estimates. A county receiving revenue pursuant to this bill must earmark the funds for the purposes of education facility maintenance and construction and infrastructure.<br />
From July 1, 2024, until July 1, 2029, this bill requires the 11 fastest-growing counties to receive an amount equal to 2.83 percent of the state sales tax revenue actually collected and remitted by dealers within the boundaries of the county. The department of revenue must determine the fastest-growing counties based on the numeric population increase over the previous two years, according to United States census bureau population estimates. A county receiving revenue pursuant to this bill must earmark the funds for the purposes of education facility maintenance and construction and infrastructure.<br />
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