SB0211 amends Tennessee sales and use tax laws to allocate tax revenue for stadium capital projects.
SB0211 modifies Tennessee Code Annotated, Title 67, Chapter 6, to adjust sales and use tax allocations. Specifically, it mandates that if a stadium in a county with a population between 366,200 and 366,300 hosts intercollegiate football, international and high school soccer games, and local events, the entity governing the stadium can receive tax revenue for capital projects. This revenue must be used exclusively for stadium capital projects, including debt service payments. The allocation continues until the debt service is retired or July 1, 2055, whichever is sooner.
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