Tennessee HB2666: AN ACT to amend Chapter 131 of the Private Acts of 1969; as amended by Chapter 85 of the Private Acts of 1987; Chapter 74 of the Private Acts of 1995; Chapter 57 of the Private Acts of 2001 and Chapter 67 of the Private Acts of 2024; and any other acts amendatory thereto, relative to the privilege tax upon hotel occupancy in Shelby County.

What the bill says

From the amended text:

Amendment No. 1 to SB2729 Taylor Signature of Sponsor AMEND S e n ate Bill No. 2729 House Bill No. 2666* by deleting Section 1 and substituting: SECTION 1. Chapter 131 of the Private Acts of 1969, as amended by Chapter 85 of the Private Acts of 1987, Chapter 74 of the Private Acts of 1995, Chapter 57 of the Private Acts of 2001, Chapter 67 of the Private Acts of 2024, and any other acts amendatory thereto, is amended by deleting the following language in Section 10(c): At the later of: (i) such time as the original issue of bonds issued to finance the construction of the Cook Convention Center and any bonds issued in accordance with subsections (e) and (f) of Section 10 hereof shall become paid in full as to both principal and interest and (ii) June 30, 2015, the taxing resolution shall be repealed and the tax shall no longer be levied; provided further that any funds remaining in "The Auditorium Fund", after all obligations imposed under the provisions of this act shall have been fulfilled, shall be paid into a trust fund restricted to those uses in subsections (d), (e) and (f) of Section 10 hereof. and substituting instead the following: At the later of: (i) such time as a National Basketball Association franchise is …

Read the full official text

Sponsors

• Vaughan, Kevin (R, 95) · primary sponsor