AN ACT to amend Tennessee Code Annotated, Title 4; Title 54; Title 55; Title 65 and Title 67, relative to transportation.

From the Legislature

As introduced, requires 95.3970 percent, instead of 100 percent, of sales and use tax revenue generated from the sale of new or used tires to be deposited in the highway fund; adds 95.3970 percent of sales and use tax revenue generated from the sale of new or used motor vehicles to be deposited in the highway fund; requires the remaining 4.6030 percent of such revenue to be allocated to the several incorporated municipalities; allocates single article sales tax collections on the retail sale of new or used motor vehicles to the highway fund. - Amends TCA Title 4; Title 54; Title 55; Title 65 and Title 67.