SB2718

SB2718 proposes a mineral severance tax in Weakley County on sand, gravel, clay, and other minerals, except those taxed under specific Tennessee Code.

SB2718 introduces a severance tax in Weakley County on sand, gravel, clay, and other minerals extracted for commercial purposes, excluding those taxed under Tennessee Code sections 67-7-101 through 67-7-110. The tax rate is set at twenty cents per ton. It becomes a lien on the minerals and any property owned by the miner, taking precedence over other judgments or liens. The tax applies regardless of where the minerals are processed or sold. The act requires approval by a two-thirds vote of Weakley County's legislative body to become effective.