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TN HB0909
Bill
Status
2/4/2025
Primary Sponsor
Johnny Garrett
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AI Summary
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Directs all revenue from the 2.75% sales tax on single articles of personal property priced between $1,600 and $3,200 to the state general fund for general state purposes
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Allocates 4.6030% of revenue from the 2002 sales tax increase (from 6% to 7%) to incorporated municipalities throughout Tennessee
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Directs 95.3970% of revenue from the 6% to 7% sales tax increase to the state general fund for general state purposes
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Updates allocation language across multiple subsections of Tennessee Code to reflect the new distribution formula established by Public Acts of 1992, 2002, and the new subdivision (c)(3)
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Takes effect July 1, 2025
Legislative Description
AN ACT to amend Tennessee Code Annotated, Section 67-6-103, relative to distribution of revenues.
Taxes, Sales
Last Action
Placed on s/c cal Finance, Ways, and Means Subcommittee for 4/14/2025
4/9/2025