Amends Chapter 28 of the Private Acts of 1997.
Tennessee SB2696 proposes to amend the allocation of the existing $7,500 impact fee, known as the Cheatham County Development Tax, subject to local approval. The bill specifies that $3,500 will be directed to the county Education Debt Service Fund, another $3,500 will be reserved for school building construction and renovation, and $500 will be allocated to the Highway and Public Works Fund. This change affects the financial distribution of development tax revenues in Cheatham County, specifically for educational and infrastructure purposes.
Tennessee SB2696 proposes to amend the allocation of the existing $7,500 impact fee, known as the Cheatham County Development Tax, subject to local approval. The bill specifies that $3,500 will be directed to the county Education Debt Service Fund, another $3,500 will be reserved for school building construction and renovation, and $500 will be allocated to the Highway and Public Works Fund. This change affects the financial distribution of development tax revenues in Cheatham County, specifically for educational and infrastructure purposes.
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