Tennessee HB0695 amends the mineral severance tax rates and reporting requirements for counties.
Tennessee HB0695 modifies the mineral severance tax rates for sand, gravel, sandstone, chert, or limestone in Tennessee. The tax rate will be fifteen cents per ton before July 1, 2025, twenty cents per ton from July 1, 2025, to July 1, 2030, twenty-five cents per ton from July 1, 2030, to July 1, 2035, and thirty cents per ton after July 1, 2035. The bill also allows county legislative bodies to increase the tax rate with a two-thirds majority vote, provided it does not exceed the specified amounts.
Included in complete analysis
- Overview
- Core Provisions
- Implementation
- Impact
- Legal Framework
- Critical Issues
See what it does, who it affects, and the critical issues in plain language. Free, 30 seconds.