BillTrack50 logo
Free Signup Login
Bill

Bill > SB1315

TN SB1315

TN SB1315
AN ACT to amend Tennessee Code Annotated, Title 67, Chapter 4; Title 67, Chapter 6 and Title 67, Chapter 7, relative to state administration fee on tax collection.

summary

Introduced
02/06/2025
In Committee
Crossed Over
Passed
05/08/2025
Dead
Signed/Enacted/Adopted
05/08/2025

Introduced Session

114th General Assembly

Bill Summary

As enacted, reduces from 1.125 percent to 0.75 percent the administrative fee percentage the department takes from the proceeds of the business tax, short-term rental unit occupancy tax, local tax surcharge, coal severance tax, and local option sales tax to assist in defraying the expenses of administration and collection, before remitting proceeds to the appropriate county, city, or town. - Amends TCA Title 67, Chapter 4; Title 67, Chapter 6 and Title 67, Chapter 7.

AI Summary

This bill reduces the administrative fee that the Tennessee Department of Revenue can take from various tax collections from 1.125% to 0.75%. Specifically, the bill amends multiple sections of Tennessee Code to lower the administrative fee percentage for business tax, short-term rental unit occupancy tax, local tax surcharge, coal severance tax, and local option sales tax. This reduction means that local governments (counties, cities, and towns) will receive a slightly larger portion of the tax proceeds, as the state will retain a smaller percentage to cover its administrative costs of collecting and distributing these taxes. The changes will take effect on July 1, 2025, and will apply to tax collections received on or after that date. The bill appears to be aimed at reducing the state's administrative overhead while ensuring that more tax revenue is returned to local jurisdictions.

Committee Categories

Budget and Finance, Government Affairs

Sponsors (4)

Last Action

Comp. became Pub. Ch. 355 (on 05/08/2025)
(1 Companion Bills)

bill text

bill summary

Loading...

bill summary

Loading...
Loading...