Tennessee HB0397 amends sales and use tax allocations for stadium-related revenue in counties with specific population ranges.
Tennessee HB0397 amends Title 67, Chapter 6 of the Tennessee Code to adjust sales and use tax allocations for counties with populations between 366,200 and 300,000. The bill creates a new subdivision allowing revenue from admissions, food, drinks, merchandise, parking, and related services at a stadium hosting NCAA Division I Football Championship Subdivision games, international and high school soccer matches, and local events to be allocated for stadium capital projects and debt service. This allocation continues until debt service is retired or July 1, 2055, whichever is sooner.
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