Senate Bill 1315, also known as House Bill 1329, proposes amendments to various sections of the Tennessee Code Annotated concerning the state administration fee on tax collection. The bill primarily reduces the administration fee from "one and one hundred twenty-five thousandths percent (1.125%)" to "seventy-five hundredths percent (0.75%)" across multiple sections, including Sections 67-4-724(a)(4), 67-4-724(b)(4), 67-4-1506, and 67-7-110(b). Additionally, Section 67-6-710(b) is amended to specify that the department shall remit the tax proceeds to local governments, deducting the new reduced fee for administrative expenses.

Furthermore, the bill deletes subsection (h) from Section 67-6-710 entirely. The changes are set to take effect on July 1, 2025, and will apply to tax collections received on or after that date. This legislation aims to streamline the tax collection process while reducing the financial burden on local governments by lowering the administration fee.

Statutes affected:
Introduced: 67-4-724(a)(4), 67-4-724, 67-4-724(b)(4), 67-4-1506, 67-4-3203(d)(2), 67-4-3203, 67-6-710(b), 67-6-710, 67-7-110(b), 67-7-110