Bill > HB1515

This bill amends Tennessee law to clarify the definition of "motor bus and/or truck companies" for tax assessment purposes, specifically excluding towing companies and including those operating commercial motor vehicles authorized for hire under specific federal registrations like PRISM (Performance and Registration Information Systems Management) or FMCSA (Federal Motor Carrier Safety Administration), as well as subsurface passenger transit companies that operate vehicles through underground tunnels. It also requires these subsurface passenger transit companies to provide additional detailed information to the comptroller of the treasury, including a list of their tangible personal property, descriptions of their tunnels and stations, and operational costs, to ensure accurate state property assessments.