Amends TCA Title 57 and Title 67.
ON APRIL 4, 2024, THE SENATE ADOPTED AMENDMENT #1 AND PASSED SENATE BILL 2926, AS AMENDED.<br /> <br /> AMENDMENT #1 rewrites the bill to, instead, in the context of licensee bond payments, require each holder of a license authorizing the consumption of alcoholic beverages on the premises to post with the department of revenue a bond of not less than $10,000 for purposes of ensuring proper payment of taxes in accordance with rules promulgated under the bill. Such bond may be in the form of a corporate surety bond, a cash deposit, a bond secured by a certificate of deposit, or other form as authorized by the department by rule. The department must promulgate rules for purposes of carrying out the bill.<br />
ON APRIL 4, 2024, THE SENATE ADOPTED AMENDMENT #1 AND PASSED SENATE BILL 2926, AS AMENDED.<br /> <br /> AMENDMENT #1 rewrites the bill to, instead, in the context of licensee bond payments, require each holder of a license authorizing the consumption of alcoholic beverages on the premises to post with the department of revenue a bond of not less than $10,000 for purposes of ensuring proper payment of taxes in accordance with rules promulgated under the bill. Such bond may be in the form of a corporate surety bond, a cash deposit, a bond secured by a certificate of deposit, or other form as authorized by the department by rule. The department must promulgate rules for purposes of carrying out the bill.<br />
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