| 4 | 3 | | |
|---|
| 5 | 4 | | HOUSE BILL 695 |
|---|
| 6 | 5 | | By Baum |
|---|
| 7 | 6 | | |
|---|
| 8 | 7 | | |
|---|
| 9 | 8 | | HB0695 |
|---|
| 10 | 9 | | 002722 |
|---|
| 11 | 10 | | - 1 - |
|---|
| 12 | 11 | | |
|---|
| 13 | 12 | | AN ACT to amend Tennessee Code Annotated, Title 67, |
|---|
| 14 | 13 | | Chapter 7, Part 2, relative to mineral severance |
|---|
| 15 | 14 | | tax. |
|---|
| 16 | 15 | | |
|---|
| 17 | 16 | | BE IT ENACTED BY THE GENERAL ASSEMBLY OF THE STATE OF TENNESSEE: |
|---|
| 18 | 17 | | SECTION 1. Tennessee Code Annotated, Section 67-7-203(a), is amended by deleting |
|---|
| 19 | 18 | | the subsection and substituting instead: |
|---|
| 20 | 19 | | (a) The rate of the tax must be set by the county legislative body, but must not |
|---|
| 21 | 20 | | exceed the following amounts per ton on sand, gravel, sandstone, chert, or limestone |
|---|
| 22 | 21 | | severed from the ground in the county: |
|---|
| 23 | 22 | | (1) For a tax period that begins prior to July 1, 2025, fifteen cents (15¢) |
|---|
| 24 | 23 | | per ton; |
|---|
| 25 | 24 | | (2) For a tax period that begins on or after July 1, 2025, and prior to July |
|---|
| 26 | 25 | | 1, 2030, twenty cents (20¢) per ton; |
|---|
| 27 | 26 | | (3) For a tax period that begins on or after July 1, 2030, and prior to July |
|---|
| 28 | 27 | | 1, 2035, twenty-five cents (25¢) per ton; and |
|---|
| 29 | 28 | | (4) For a tax period that begins on or after July 1, 2035, and for |
|---|
| 30 | 29 | | subsequent tax periods, thirty cents (30¢) per ton. |
|---|
| 31 | 30 | | SECTION 2. Tennessee Code Annotated, Section 67-7-201, is amended by deleting |
|---|
| 32 | 31 | | subsection (b) and redesignating the remaining subsection. |
|---|
| 33 | 32 | | SECTION 3. Tennessee Code Annotated, Section 67-7-207(b), is amended by |
|---|
| 34 | 33 | | designating the existing language as subdivision (1) and adding the following new subdivision: |
|---|
| 35 | 34 | | (2) Not less than thirty (30) days after the end of a county's fiscal year, each |
|---|
| 36 | 35 | | county that receives revenue from a tax levied pursuant to this part shall provide an |
|---|
| 37 | 36 | | |
|---|
| 38 | 37 | | |
|---|
| 39 | 38 | | - 2 - 002722 |
|---|
| 40 | 39 | | |
|---|
| 41 | 40 | | annual written report to the comptroller of the treasury, the commissioner of |
|---|
| 42 | 41 | | transportation, the chair of the transportation and safety committee of the senate, and |
|---|
| 43 | 42 | | the chair of the committee of the house of representatives having jurisdiction over |
|---|
| 44 | 43 | | transportation issues, detailing the amount of revenue deposited into the county road |
|---|
| 45 | 44 | | fund during the previous fiscal year, the amount of revenue spent by the county, and |
|---|
| 46 | 45 | | how those expenditures have been designated and used for construction, maintenance, |
|---|
| 47 | 46 | | and repair of the county system pursuant to subdivision (b)(1). |
|---|
| 48 | 47 | | SECTION 4. Tennessee Code Annotated, Section 67-7-212, is amended by adding the |
|---|
| 49 | 48 | | following new subsection: |
|---|
| 50 | 49 | | (d) A county legislative body that has authorized a tax under this part may |
|---|
| 51 | 50 | | increase the tax rate in accordance with § 67-7-203(a) by adopting a resolution by a two- |
|---|
| 52 | 51 | | thirds (2/3) majority vote. The presiding officer of the county legislative body shall |
|---|
| 53 | 52 | | deliver a certified copy of the resolution increasing the tax rate to the department of |
|---|
| 54 | 53 | | revenue. The new tax rate must not be collected by the department of revenue pursuant |
|---|
| 55 | 54 | | to the county legislative action until the first day of a month occurring at least thirty (30) |
|---|
| 56 | 55 | | days after the receipt of a certified copy of such action by the department. |
|---|
| 57 | 56 | | SECTION 5. This act takes effect upon becoming a law, the public welfare requiring it. |
|---|