End the Grocery Tax by Closing Corporate Loopholes Act

Amends TCA Title 57 and Title 67.

Tennessee HB0002, titled "End the Grocery Tax by Closing Corporate Loopholes Act," aims to eliminate the 4% sales tax on the retail sale of food and food ingredients for human consumption, excluding items such as alcoholic beverages, tobacco, candy, dietary supplements, and prepared food. The bill affects consumers purchasing groceries by removing the tax burden on these items. Key provisions include the removal of the current requirement for the revenue generated from a portion of the grocery tax to be earmarked for education, as well as making the allocation of funds to counties and municipalities permanent based on exempt sales data.