Tennessee HB0308 amends sales and use taxes, allowing certain counties to levy a higher tax rate for jail construction or debt retirement.

Tennessee HB0308 amends the state's sales and use taxes, specifically allowing counties with a population over 900,000 to levy a tax rate of 3.75% for up to eight years. This higher rate, up from 2.25%, must be used exclusively for constructing a new county jail or retiring related debt. After the authorized period, the tax rate reverts to 2.75%. Revenue from the increased tax rate must be allocated for the specified purposes and cannot replace other funds. The act takes effect immediately upon becoming law.

Tennessee HB0308 amends sales and use taxes, allowing certain counties to levy a higher tax rate for jail construction or debt retirement.

Tennessee HB0308 amends the state's sales and use taxes, specifically allowing counties with a population over 900,000 to levy a tax rate of 3.75% for up to eight years. This higher rate, up from 2.25%, must be used exclusively for constructing a new county jail or retiring related debt. After the authorized period, the tax rate reverts to 2.75%. Revenue from the increased tax rate must be allocated for the specified purposes and cannot replace other funds. The act takes effect immediately upon becoming law.