House Bill 1517 amends Tennessee Code Annotated, Section 67-7-207, specifically focusing on the management and reporting of revenues from the mineral severance tax. The bill deletes the existing subsection (b) and replaces it with new provisions that require all revenues from this tax to be credited to the county road fund, which is designated for the construction, maintenance, and repair of the county road system.

Additionally, the bill mandates that each county receiving these revenues must submit an annual written report within ninety days after the end of its fiscal year. This report must detail the total revenue deposited into the county road fund, the amount spent, and the specific uses of those expenditures. Furthermore, these reports will be subject to audit by the comptroller of the treasury, ensuring accountability and transparency in the use of the funds. The act is set to take effect upon becoming law.

Statutes affected:
Introduced: 67-7-207(b), 67-7-207