Senate Bill 1593, also known as House Bill 1517, amends Tennessee Code Annotated, Section 67-7-207, concerning the mineral severance tax. The bill replaces the existing subsection (b) with new provisions that stipulate how revenues from this tax must be allocated. Specifically, it mandates that these revenues be credited to the county road fund for the purposes of construction, maintenance, and repair of the county road system.

Additionally, the bill requires each county receiving these tax revenues to submit an annual written report to key state officials, including the commissioner of transportation and legislative committee chairs, within ninety days after the end of the fiscal year. This report must detail the amount of revenue deposited into the county road fund, the expenditures made, and how those funds were utilized for road system improvements. Furthermore, these reports will be subject to audit by the comptroller of the treasury, ensuring accountability in the use of the funds.

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