Tennessee Board Discusses Allocation of Excess Tax Revenue in Nashville
What happened
A board designed to oversee the distribution of excess tax revenue in downtown Nashville met for the first time earlier this month. Former Governor Bill Haslam, a board member, expressed concern about providing money directly to businesses, suggesting the funds be used for projects benefiting the greater good. Comptroller Jason Mumpower stated that the excess revenue could be in the tens of millions of dollars.
From timesfreepress.com
Why it matters
The Joint Capital Tourism Board was created to distribute excess tax revenue generated by the downtown Nashville Tourism Development Zone. Lawmakers are also considering moving this revenue to fund road improvements in a different tourism zone on the city's east bank.
From timesfreepress.com
Who's involved
- Bill HaslamFormer governor and board member voicing policy concerns on revenue use
- Jason MumpowerCurrent Comptroller providing estimates on excess revenue amounts
- TennesseeState government responsible for controlling and allocating the excess tax revenue
- NashvilleLocation of the downtown Nashville Tourism Development Zone
Who could feel it
Possible knock-on effectsThese are possibilities Brind reasoned out, not predictions, and not advice. Most are not stated in any report.
- Tennessee Department of RevenueSpeculative
The Tennessee Department of Revenue might see changes in the management and allocation of the excess tax revenue.
- Tennessee Department of TransportationSpeculative
The Tennessee Department of Transportation could receive funding for specific road improvements in other tourism zones.
Possible ripples
Who this could reach next, traced step by step from the reporting. Possibilities worth considering, not forecasts.- Tennessee Department of Transportation may get funding for road projectsTennessee Department of Transportation may receive funding for road improvements from excess tax revenuePossible
- Nashville's downtown may see infrastructure improvements or tax reliefNashville's downtown may see infrastructure improvements or tax relief depending on revenue spending decisionsPossible
- Tennessee revenue allocation rules may shift over excess tax fundsTennessee Department of Revenue may see changes in how excess tax revenue is allocatedPossible
- New revenue board may change Davidson County's tax relief fundingDavidson County's tax relief and public safety funding may change based on new revenue board decisionsPossible
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The entities involved
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Bill Haslam
49th Governor of Tennessee
Nothing else this week.
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Tennessee
state of the United States of America
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Jason Mumpower
American politician