| 1 | 1 | | |
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| 2 | 2 | | HOUSE BILL 695 |
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| 3 | 3 | | By Baum |
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| 4 | 4 | | |
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| 5 | 5 | | SENATE BILL 889 |
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| 6 | 6 | | By Reeves |
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| 7 | 7 | | |
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| 8 | 8 | | |
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| 9 | 9 | | SB0889 |
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| 10 | 10 | | 002722 |
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| 11 | 11 | | - 1 - |
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| 12 | 12 | | |
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| 13 | 13 | | AN ACT to amend Tennessee Code Annotated, Title 67, |
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| 14 | 14 | | Chapter 7, Part 2, relative to mineral severance |
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| 15 | 15 | | tax. |
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| 16 | 16 | | |
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| 17 | 17 | | BE IT ENACTED BY THE GENERAL ASSEMBLY OF THE STATE OF TENNESSEE: |
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| 18 | 18 | | SECTION 1. Tennessee Code Annotated, Section 67-7-203(a), is amended by deleting |
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| 19 | 19 | | the subsection and substituting instead: |
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| 20 | 20 | | (a) The rate of the tax must be set by the county legislative body, but must not |
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| 21 | 21 | | exceed the following amounts per ton on sand, gravel, sandstone, chert, or limestone |
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| 22 | 22 | | severed from the ground in the county: |
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| 23 | 23 | | (1) For a tax period that begins prior to July 1, 2025, fifteen cents (15¢) |
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| 24 | 24 | | per ton; |
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| 25 | 25 | | (2) For a tax period that begins on or after July 1, 2025, and prior to July |
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| 26 | 26 | | 1, 2030, twenty cents (20¢) per ton; |
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| 27 | 27 | | (3) For a tax period that begins on or after July 1, 2030, and prior to July |
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| 28 | 28 | | 1, 2035, twenty-five cents (25¢) per ton; and |
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| 29 | 29 | | (4) For a tax period that begins on or after July 1, 2035, and for |
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| 30 | 30 | | subsequent tax periods, thirty cents (30¢) per ton. |
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| 31 | 31 | | SECTION 2. Tennessee Code Annotated, Section 67-7-201, is amended by deleting |
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| 32 | 32 | | subsection (b) and redesignating the remaining subsection. |
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| 33 | 33 | | SECTION 3. Tennessee Code Annotated, Section 67-7-207(b), is amended by |
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| 34 | 34 | | designating the existing language as subdivision (1) and adding the following new subdivision: |
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| 35 | 35 | | (2) Not less than thirty (30) days after the end of a county's fiscal year, each |
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| 36 | 36 | | county that receives revenue from a tax levied pursuant to this part shall provide an |
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| 37 | 37 | | |
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| 38 | 38 | | |
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| 39 | 39 | | - 2 - 002722 |
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| 40 | 40 | | |
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| 41 | 41 | | annual written report to the comptroller of the treasury, the commissioner of |
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| 42 | 42 | | transportation, the chair of the transportation and safety committee of the senate, and |
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| 43 | 43 | | the chair of the committee of the house of representatives having jurisdiction over |
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| 44 | 44 | | transportation issues, detailing the amount of revenue deposited into the county road |
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| 45 | 45 | | fund during the previous fiscal year, the amount of revenue spent by the county, and |
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| 46 | 46 | | how those expenditures have been designated and used for construction, maintenance, |
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| 47 | 47 | | and repair of the county system pursuant to subdivision (b)(1). |
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| 48 | 48 | | SECTION 4. Tennessee Code Annotated, Section 67-7-212, is amended by adding the |
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| 49 | 49 | | following new subsection: |
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| 50 | 50 | | (d) A county legislative body that has authorized a tax under this part may |
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| 51 | 51 | | increase the tax rate in accordance with § 67-7-203(a) by adopting a resolution by a two- |
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| 52 | 52 | | thirds (2/3) majority vote. The presiding officer of the county legislative body shall |
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| 53 | 53 | | deliver a certified copy of the resolution increasing the tax rate to the department of |
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| 54 | 54 | | revenue. The new tax rate must not be collected by the department of revenue pursuant |
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| 55 | 55 | | to the county legislative action until the first day of a month occurring at least thirty (30) |
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| 56 | 56 | | days after the receipt of a certified copy of such action by the department. |
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| 57 | 57 | | SECTION 5. This act takes effect upon becoming a law, the public welfare requiring it. |
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