House Bill 812 amends Tennessee Code Annotated to adjust the distribution of privilege tax collected under Section 4-49-104(e). Specifically, it deletes the previous subdivision (3) and replaces it with a new provision that mandates that four percent (4%) of the collected tax be allocated to the department of mental health and substance abuse services. Additionally, the bill introduces a new subdivision (4) that stipulates one percent (1%) of the privilege tax must be allocated to the department of veterans services to support veterans services in the state.

The bill is set to take effect on July 1, 2025, emphasizing the importance of funding for mental health and veterans services in Tennessee. This legislative change aims to enhance the support provided to these critical areas by ensuring a dedicated funding stream from the privilege tax.

Statutes affected:
Introduced: 4-49-104(e), 4-49-104