SB0574 amends Tennessee tax laws to adjust beverage taxes and reallocate tax revenue for recycling and litter prevention programs.

SB0574 modifies Tennessee's tax code by reducing the special privilege tax on beer and other beverages from $4.29 to $2.00 per barrel. It also changes the tax on bottled soft drinks from a per-barrel rate to 0.9% of gross receipts, with a reduction to 0.4% under certain conditions. The bill reallocates tax revenue, with 0.5% going to litter prevention programs and 0.4% to recycling grants. It mandates annual reports on these allocations and repeals certain tax provisions if a state or federal deposit law is enacted. The changes take effect on July 1, 2025.

SB0574 amends Tennessee tax laws to adjust beverage taxes and reallocate tax revenue for recycling and litter prevention programs.

SB0574 modifies Tennessee's tax code by reducing the special privilege tax on beer and other beverages from $4.29 to $2.00 per barrel. It also changes the tax on bottled soft drinks from a per-barrel rate to 0.9% of gross receipts, with a reduction to 0.4% under certain conditions. The bill reallocates tax revenue, with 0.5% going to litter prevention programs and 0.4% to recycling grants. It mandates annual reports on these allocations and repeals certain tax provisions if a state or federal deposit law is enacted. The changes take effect on July 1, 2025.