HB2323 amends Tennessee law to allow municipalities to levy a privilege tax on property development and transportation infrastructure improvements.

HB2323 amends Tennessee Code Annotated, Title 67, Chapter 4, Part 29, to allow municipalities to levy a privilege tax on property development and improvements to roads, streets, sidewalks, trails, and other transportation infrastructure. The tax must be levied at specified rates and conditions. The collected taxes must be placed in a designated fund and used exclusively for capital improvement programs. The act also defines "municipality" as an incorporated city or town without a school system or LEA within its jurisdiction. This act would take effect immediately upon becoming law.

HB2323 amends Tennessee law to allow municipalities to levy a privilege tax on property development and transportation infrastructure improvements.

HB2323 amends Tennessee Code Annotated, Title 67, Chapter 4, Part 29, to allow municipalities to levy a privilege tax on property development and improvements to roads, streets, sidewalks, trails, and other transportation infrastructure. The tax must be levied at specified rates and conditions. The collected taxes must be placed in a designated fund and used exclusively for capital improvement programs. The act also defines "municipality" as an incorporated city or town without a school system or LEA within its jurisdiction. This act would take effect immediately upon becoming law.