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A resolution amending Resolution No. R84-334 to increase the levy and set the rates of the mineral severance tax.
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WHEREAS, pursuant to Tennessee Code Annotated Sections 67-7-201, et seq. (the "Act"), the Metropolitan Council previously adopted Resolution No. R84-334 authorizing the levy of a fifteen cents per ton tax on all sand, gravel, sandstone, chert and limestone severed from the ground located within the jurisdiction of The Metropolitan Government of Nashville and Davidson County (such tax being the "mineral severance tax"); and,
WHEREAS, the Act requires that the revenues of the mineral severance tax be deposited into a county road fund and be designated for expenditures on construction, maintenance, and repair of the county system; and,
WHEREAS, Chapter 285 of the 2025 Tennessee Public Acts ("Public Chapter 285") amends certain sections of the Act which, among other things, allows a county legislative body to gradually increase the rate of the mineral severance tax from the current maximum rate of fifteen cents per ton to: (i) twenty cents per ton between July 1, 2025, and June 30, 2030, (ii) twenty-five cents per ton between July 1, 2030, and June 30, 2035, and (iii) thirty cents per ton beginning July 1, 2035 and continuing thereafter; and,
WHEREAS, the Act as amended by Public Chapter 285 permits a county legislative body to increase the mineral severance tax by resolution upon approval of a two-thirds (2/3) majority vote; and,
WHEREAS, it being the intent of the Metropolitan Council to levy the maximum rate of the mineral severance tax for each applicable period as provided for by the Act, such being in the best interests and welfare of the citizens of The Metropolitan Government of Nashville and Davidson County.
NOW, THEREFORE, BE IT RESOLVED BY THE COUNCIL OF THE METROPOLITAN GOVERNMENT OF NASHVILLE AND DAVIDSON COUNTY:
Section 1. That Resolution No. R84-334 is amended so that that subsequent to Sep...
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