Public Chapter 143

SENATE BILL NO. 1685

By Gilbert, Elsea, McNally, Atchley, Person, Jordan, Koella, Haun, Carter, Ramsey, Leatherwood, Miller, Fowler

Substituted for: House Bill No. 1263

By Sharp, Davis, Haley, Hargett, Pleasant, Wood, McDaniel, Stamps, Walley, Boyer, Ford, Patton, Kerr, Beavers, Kent, Bird, Clabough, McKee, Sargent, Newton, Scroggs, Godsey, Halteman Harwell, Goins, Walker, McAfee, Mumpower, Roach

AN ACT To amend Tennessee Code Annotated, Section 67-6-346, to exempt from sales and use tax, pollution control equipment required to bring the purchaser into compliance with pollution control laws or regulations.

BE IT ENACTED BY THE GENERAL ASSEMBLY OF THE STATE OF TENNESSEE:

SECTION 1. Tennessee Code Annotated, Section 67-6-346, is amended by deleting the section in its entirety, and substituting instead the following:

There shall be a credit of one hundred percent (100%) of the sales and use tax paid with respect to pollution control required to bring the purchaser into compliance with pollution control laws or regulations, whether federal, state or local. Instead of taking the credit available under this Section or 67-6-507(i) and (j), the purchaser may apply to the commissioner of revenue for a refund of the taxes paid or for authority to make purchases exempt from the tax.

SECTION 2. This act shall take effect upon becoming law, and shall also apply to such credits outstanding immediately prior to the effective date, the public welfare requiring it.