Amends Tennessee tax code to allow municipalities to use sales tax revenues for mixed-use developments.

This bill amends Tennessee Code Annotated, Title 7 and Title 67, to allow municipalities or public authorities to use sales tax revenues for mixed-use developments. Specifically, it allows the application of sales tax revenues for developments including sports facilities or performance venues with certain capacities, provided they were located in a tourism development zone when certified. The bill also requires a total public and private capital investment of three hundred million dollars ($300,000,000) or more for certain projects.

Amends Tennessee tax code to allow municipalities to use sales tax revenues for mixed-use developments.

This bill amends Tennessee Code Annotated, Title 7 and Title 67, to allow municipalities or public authorities to use sales tax revenues for mixed-use developments. Specifically, it allows the application of sales tax revenues for developments including sports facilities or performance venues with certain capacities, provided they were located in a tourism development zone when certified. The bill also requires a total public and private capital investment of three hundred million dollars ($300,000,000) or more for certain projects.