Bill > HB2639

This bill authorizes Henry County, Tennessee, to levy a severance tax on minerals extracted from the ground, specifically including clay and titanium, and any other substance commonly recognized as a mineral that is not already taxed by the state. The tax rate will be set at the maximum per-ton rate allowed by state law and will automatically adjust if that state law changes, though it will remain at the highest previously authorized rate if the state law is reduced or repealed. The tax is imposed on the owner or operator at the time the mineral is extracted and removed from the mine in its natural state, and the Tennessee Department of Revenue will administer and collect it. Importantly, all revenue generated from this tax, after administrative costs, must be used exclusively for the construction, maintenance, and repair of Henry County's road system. This act will only take effect if approved by a two-thirds vote of Henry County's legislative body.

Government Affairs

https://wapp.capitol.tn.gov/apps/Billinfo/Default?BillNumber=HB2639&ga=114