Amends Chapter 131 of the Private Acts of 1969; as amended.
Tennessee SB2729 amends the conditions under which the occupancy tax is levied and modifies the allocation of revenue from this tax in the event that the tenant of an indoor sports facility vacates the premises. This bill specifically affects local governments and indoor sports facilities that are subject to the occupancy tax. Key provisions include the revised criteria for tax cessation and the reallocation of tax revenue based on tenant occupancy status.
Tennessee SB2729 amends the conditions under which the occupancy tax is levied and modifies the allocation of revenue from this tax in the event that the tenant of an indoor sports facility vacates the premises. This bill specifically affects local governments and indoor sports facilities that are subject to the occupancy tax. Key provisions include the revised criteria for tax cessation and the reallocation of tax revenue based on tenant occupancy status.
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