Tennessee HB2639 authorizes a mineral severance tax in Henry County for road fund improvements.

Tennessee HB2639 establishes a mineral severance tax in Henry County, applying to minerals like clay and titanium. The tax rate matches the maximum per-ton rate authorized by Tennessee Code. Revenues, collected quarterly by the Henry County Trustee, fund county road construction, maintenance, and repair. The tax becomes effective upon legislative approval by a two-thirds vote in Henry County. The Tennessee Department of Revenue administers the tax, with penalties for non-payment. If the maximum tax rate changes, the severance tax adjusts accordingly.

Tennessee HB2639 authorizes a mineral severance tax in Henry County for road fund improvements.

Tennessee HB2639 establishes a mineral severance tax in Henry County, applying to minerals like clay and titanium. The tax rate matches the maximum per-ton rate authorized by Tennessee Code. Revenues, collected quarterly by the Henry County Trustee, fund county road construction, maintenance, and repair. The tax becomes effective upon legislative approval by a two-thirds vote in Henry County. The Tennessee Department of Revenue administers the tax, with penalties for non-payment. If the maximum tax rate changes, the severance tax adjusts accordingly.