Bill Summary – FastDemocracy

 
                                        HOUSE BILL 775
                                           By Lamberth AN ACT to amend Tennessee Code Annotated, Title 67,
                                            Chapter 6, relative to sports facilities.
BE IT ENACTED BY THE GENERAL ASSEMBLY OF THE STATE OF TENNESSEE:
       SECTION 1. Tennessee Code Annotated, Section 67-6-103, is amended by adding the following as a new subsection:
              (u) On or before February 1, 2022, the department of revenue shall submit a brief written summary to the finance, ways and means committees of the house of
       representatives and the senate listing the municipalities, or instrumentalities of such municipalities, that have stadiums, sports venues, and other sports facilities in their jurisdictions that are authorized by this section or other law to retain state amusement tax revenue imposed on the sale of admissions at such facilities pursuant to § 67-6-212
       and state and local sales tax revenue imposed by this chapter on the sale of goods and services at such facilities, in order to fund capital projects and retire debt service on such facilities. Such summary must include the names and locations of the sports facilities,
       the amounts and type of revenue retained, and the purposes for which such revenue is
       used. This subsection is deleted on February 1, 2023.
       SECTION 2. This act takes effect upon becoming a law, the public welfare requiring it.
                                              HB0775
                                              002907
                                               -1-
Statutes affected: 
Current Version: 67-6-103