Taxes, Severance - As enacted, extends from 30 to 90 days, the time following the end of a county's fiscal year within which a county must submit an annual report to the commissioner of transportation and the chairs of the house and senate transportation committees regarding mineral severance tax revenue the county deposits into its county road fund; removes the comptroller of the treasury as a recipient of the report; subjects the report to audit by the comptroller. - Amends TCA Section 67-7...

Summary

The bill lengthens the time counties have to report mineral severance tax revenues deposited in their road funds from 30 to 90 days after the fiscal year ends. It requires those reports to go to the transportation commissioner and the chairs of the Senate and House transportation committees, and makes the reports subject to audit by the state comptroller. The change removes the comptroller as a direct recipient of the report but keeps oversight through the audit.

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