Amends TCA Title 9; Title 54; Title 55 and Title 67.
Tennessee HB0963 proposes to allocate all revenue generated from the state sales tax on retail sales of new or used motor vehicles and new or used tires, exceeding base tax revenues, to the state highway fund. This bill affects the distribution of sales tax revenue related to motor vehicle and tire sales, specifically directing additional funds to support highway infrastructure. The key provision is the reallocation of excess sales tax revenue to enhance funding for the state highway fund.
Tennessee HB0963 proposes to allocate all revenue generated from the state sales tax on retail sales of new or used motor vehicles and new or used tires, exceeding base tax revenues, to the state highway fund. This bill affects the distribution of sales tax revenue related to motor vehicle and tire sales, specifically directing additional funds to support highway infrastructure. The key provision is the reallocation of excess sales tax revenue to enhance funding for the state highway fund.
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