Amends TCA Title 67, Chapter 6.
Tennessee SB0211 establishes a special allocation of state and local sales tax revenue for a stadium in Hamilton County, provided it meets specific criteria related to hosting intercollegiate football, international and high school soccer, and local events. The bill mandates that the designated governing entity of the stadium reimburse the state for reallocating these tax revenues, which can only be used for funding capital projects and operational expenses associated with the stadium. This allocation will continue until the debt service is retired or until July 1, 2055, whichever occurs first.
Tennessee SB0211 establishes a special allocation of state and local sales tax revenue for a stadium in Hamilton County, provided it meets specific criteria related to hosting intercollegiate football, international and high school soccer, and local events. The bill mandates that the designated governing entity of the stadium reimburse the state for reallocating these tax revenues, which can only be used for funding capital projects and operational expenses associated with the stadium. This allocation will continue until the debt service is retired or until July 1, 2055, whichever occurs first.
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