Amends TCA Title 67, Chapter 4; Title 67, Chapter 6 and Title 67, Chapter 7.

Tennessee HB1329 amends various sections of the Tennessee Code Annotated related to business taxes, specifically adjusting the distribution of tax proceeds collected from businesses. The bill affects local governments and the Department of Revenue by changing the allocation percentages for administrative fees and earmarking funds for specific purposes, including a reduction of the administrative fee from 1.125% to 0.75%. Additionally, it modifies the distribution of tax revenues to ensure that a portion is reserved for computer hardware purchases and specifies how remaining proceeds are allocated to local municipalities and the state general fund.