Amends TCA Title 57 and Title 67.
ON APRIL 4, 2024, THE SENATE ADOPTED AMENDMENT #1 AND PASSED SENATE BILL 2926, AS AMENDED. 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.
ON APRIL 4, 2024, THE SENATE ADOPTED AMENDMENT #1 AND PASSED SENATE BILL 2926, AS AMENDED. 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.
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