Amends TCA Title 7 and Title 67.
Tennessee HB0627 amends the law regarding the privilege tax on hotel occupancy levied by municipalities, primarily focusing on the allocation of tax revenue for tourism promotion and development. It affects municipalities that impose this tax, requiring them to report expenditures related to tourism and ensuring that funds are not used for general government purposes without proper agreements. Key provisions include the stipulation that municipalities must use tax revenue for tourism-related activities, the requirement for annual reporting to the Department of Tourist Development, and a cap on cumulative tax rates in incorporated areas of a county.
Tennessee HB0627 amends the law regarding the privilege tax on hotel occupancy levied by municipalities, primarily focusing on the allocation of tax revenue for tourism promotion and development. It affects municipalities that impose this tax, requiring them to report expenditures related to tourism and ensuring that funds are not used for general government purposes without proper agreements. Key provisions include the stipulation that municipalities must use tax revenue for tourism-related activities, the requirement for annual reporting to the Department of Tourist Development, and a cap on cumulative tax rates in incorporated areas of a county.
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