Amends TCA Section 67-6-103.
Tennessee SB0177 amends TCA Section 67-6-103 by removing the requirement for the commissioner of revenue to deposit all revenue generated from the sales and use tax rate increase from 6% to 7% into the state general fund for general purposes. Instead, the bill allocates 4.6030% of this revenue to incorporated municipalities, while 95.3970% will continue to be paid into the state general fund for general state purposes. This change affects the distribution of sales tax revenue, specifically benefiting municipalities within the state.
Tennessee SB0177 amends TCA Section 67-6-103 by removing the requirement for the commissioner of revenue to deposit all revenue generated from the sales and use tax rate increase from 6% to 7% into the state general fund for general purposes. Instead, the bill allocates 4.6030% of this revenue to incorporated municipalities, while 95.3970% will continue to be paid into the state general fund for general state purposes. This change affects the distribution of sales tax revenue, specifically benefiting municipalities within the state.
Track Tennessee Legislation Like a Pro
Join hundreds of professionals using LegisGo to stay ahead of legislative changes.
Instant Alerts
Get notified when bills you track move through the legislature
AI Summaries
Understand complex legislation in seconds with AI-powered analysis
Full Access
All 132 legislators, committee schedules, and voting records