Cheatham County - Subject to local approval, requires the existing impact fee of $7,500 in Cheatham County, known as the Cheatham County Development Tax, to be allocated as follows: $3,500 to the county Education Debt Se, the official text

HOUSE BILL 2626
                       By Littleton

SENATE BILL 2696
     By Roberts

                                       AN ACT to amend Chapter 28 of the Private Acts of 1997; and
                                                   any other acts amendatory thereto, relative to Cheatham
                                                   County.

BE IT ENACTED BY THE GENERAL ASSEMBLY OF THE STATE OF TENNESSEE:
         SECTION 1. Chapter 28 of the Private Acts of 1997; and any other acts amendatory

thereto, is amended by deleting SECTION 8 and substituting:
                   SECTION 8. Collection of the tax herein levied shall be determined by the

         governing body of Cheatham County in accordance with Section 5 of this act. Proceeds
         from the tax levied herein shall be deposited into the county general fund and used as
         follows:

                             (1) Forty-six and sixty-seven one hundredths percent (46.67%) of the tax
                   shall be deposited into the Cheatham County Education Debt Service Fund;

                             (2) Forty-six and sixty-seven one hundredths percent (46.67%) of the tax
                   shall be deposited into the Cheatham County Education Debt Service Fund and
                   accounted for separately as a reserve fund to pay debt relating to financing the
                   acquisition, construction, or reconstruction of school buildings; and

                             (3) Six and sixty-six one hundredths percent (6.66%) of the tax shall be
                   deposited into the Cheatham County Highway/Public Works Fund.
         SECTION 2. This act shall have no effect unless it is approved by a two-thirds (2/3) vote
of the legislative body of Cheatham County. Its approval or nonapproval shall be proclaimed by
the presiding officer of the legislative body and certified to the secretary of state.
         SECTION 3. For the purpose of approving or rejecting the provisions of this act, it shall
be effective upon becoming a law, the public welfare requiring it. For all other purposes, it shall
become effective as provided in Section 2.

SB2696
010634

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