HOUSE BILL 397
By Vital
SENATE BILL 211
By Gardenhire
SB0211
000850
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AN ACT to amend Tennessee Code Annotated, Title 67,
Chapter 6, relative to sales and use taxes.
BE IT ENACTED BY THE GENERAL ASSEMBLY OF THE STATE OF TENNESSEE:
SECTION 1. Tennessee Code Annotated, Section 67-6-103(d)(1)(A), is amended by
adding the following as a new subdivision:
(ix) Notwithstanding the allocations provided for in subsection (a), if a stadium,
which is designed to host games of an intercollegiate football team that competes in the
NCAA Division I Football Championship Subdivision (FCS), games of international and
high school soccer teams, and local and regional events, exists in a county having a
population of not less than three hundred sixty-six thousand two hundred (366,200) nor
more than three hundred sixty-six thousand three hundred (366,300) according to the
2020 federal census or any subsequent federal census, and only if the entity designated
to govern the operations of the stadium reimburses the state for costs to reallocate
apportionments of the tax revenue under this section, then an amount must be
apportioned and distributed to the entity equal to the amount of state and local sales tax
revenue, excluding any portion of local sales taxes that otherwise would be allocated for
school purposes, derived from the sale of admissions to all events occurring within the
stadium and from all sales of food, drinks, merchandise, and authorized goods and
products sold from a location on the premises of the stadium in conjunction with an
event occurring at the stadium, parking charges, and related services. Amounts
apportioned and distributed to the entity must be for the exclusive use of the entity to
fund capital projects at the stadium, including the payment of debt service for capital
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projects, and operation expenses associated with the stadium. The allocation provided
under this subdivision (d)(1)(A)(ix) must continue until the debt service is retired, or July
1, 2055, whichever is sooner.
SECTION 2. This act takes effect July 1, 2025, the public welfare requiring it.