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Bill > HB1974
TN HB1974
TN HB1974AN ACT to amend Tennessee Code Annotated, Title 9; Title 54; Title 55 and Title 67, relative to the allocation of sales tax revenue for the highway fund.
summary
Introduced
01/23/2024
01/23/2024
In Committee
01/25/2024
01/25/2024
Crossed Over
Passed
Dead
04/25/2024
04/25/2024
Introduced Session
113th General Assembly
Bill Summary
As introduced, allocates all revenue generated from the sales tax on retail sales of new or used motor vehicles and new or used tires to the state highway fund; earmarks a share of sales tax revenue allocated to the general fund to the department of transportation for administrative expenses. - Amends TCA Title 9; Title 54; Title 55 and Title 67.
AI Summary
This bill allocates all revenue generated from the sales tax on retail sales of new or used motor vehicles and new or used tires to the state highway fund. Additionally, it earmarks a 1% share of the sales tax revenue allocated to the general fund to the Department of Transportation for administrative expenses, while exempting revenue from certain past sales tax increases from this new allocation. The bill takes effect on July 1, 2024.
Committee Categories
Budget and Finance
Sponsors (1)
Last Action
Assigned to s/c Finance, Ways, and Means Subcommittee (on 01/30/2024)
Bill Topics
Macroeconomics
- ‐ Taxation, Tax Policy, and Tax Reform
Transportation
- ‐ Highway Construction, Maintenance, and Safety
bill text
bill summary
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bill summary
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bill summary
| Document Type | Source Location | Created |
|---|---|---|
| State Bill Page | https://wapp.capitol.tn.gov/apps/Billinfo/default.aspx?BillNumber=HB1974&ga=113 | 01/23/2024 |
| BillText | https://www.capitol.tn.gov/Bills/113/Bill/HB1974.pdf | 01/23/2024 |
| Fiscal Note - SB1581 | https://www.capitol.tn.gov/Bills/113/Fiscal/SB1581.pdf | 01/23/2024 |
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