Senate Bill 2633, also known as House Bill 2496, proposes amendments to the Tennessee Code Annotated regarding taxation and the allocation of sales tax revenues. The bill introduces a new subsection to Section 7-88-114, allowing municipalities or public authorities entitled to sales tax revenue allocations to apply these funds for purposes authorized under the relevant chapters. Additionally, it amends Section 67-4-3002 by deleting the previous criteria for mixed-use developments and substituting it with new criteria that require a minimum capital investment of $200 million and the inclusion of specific facilities, such as sports fields or performance venues.

Furthermore, the bill adds a new subsection to Section 67-6-103, which outlines the apportionment and distribution of sales and use tax revenue for the construction or renovation of performance venues that meet certain criteria, including seating capacity and prior use as a minor league baseball stadium. This revenue is designated to assist in the retirement of related debt, with specific exclusions for educational purposes. The act is set to take effect upon becoming law, emphasizing the public welfare.

Statutes affected:
Introduced: 7-88-114, 67-4-3002
Amended with HA1063 -- 04/13/2026: 7-88-114, 67-4-3002, 67-6-103