| 4 | 4 | | |
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| 5 | 5 | | SENATE BILL 1095 |
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| 6 | 6 | | By Hensley |
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| 7 | 7 | | |
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| 8 | 8 | | |
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| 9 | 9 | | SB1095 |
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| 10 | 10 | | 003009 |
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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 6, Part 3, relative to exemptions from |
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| 15 | 15 | | sales and use 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, Title 67, Chapter 6, Part 3, is amended by |
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| 19 | 19 | | adding the following as a new section: |
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| 20 | 20 | | (a) There is exempt from the tax imposed by this chapter the first twenty dollars |
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| 21 | 21 | | ($20.00) of the sales price on a sale of tangible personal property paid for with physical |
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| 22 | 22 | | cash. This subsection (a) does not exempt the sale from taxes imposed by other laws, |
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| 23 | 23 | | including taxes imposed pursuant to title 57 or chapter 4, part 10 of this title. |
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| 24 | 24 | | (b) As used in subsection (a), "physical cash": |
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| 25 | 25 | | (1) Means physical, tangible coins, paper money, and notes declared |
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| 26 | 26 | | legal tender by state or federal law; and |
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| 27 | 27 | | (2) Includes physical, tangible gold and silver. |
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| 28 | 28 | | SECTION 2. This act takes effect July 1, 2025, the public welfare requiring it. |
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