HB1457 — Public Funds and Financing - As introduced, establishes the Tennessee taxpayer relief and recession reserve; clarifies that deposits into the reserve for revenue fluctuation and the relief and recession reserve do not count toward the Copeland Cap; provides an automatic, temporary sales tax reduction when there are sufficient over collections to offset the loss of revenue. - Amends TCA Title 9 and Title 67.

HB1457 — Public Funds and Financing - As introduced, establishes the Tennessee taxpayer relief and recession reserve; clarifies that deposits into the reserve for revenue fluctuation and the relief and recession reserve do not count toward the Copeland Cap; provides an automatic, temporary sales tax reduction when there are sufficient over collections to offset the loss of revenue. - Amends TCA Title 9 and Title 67. · Informed CitizenryHB1457 establishes the Tennessee taxpayer relief and economic recession reserve, a reserve account in the general fund. The bill directs the commissioner of finance and administration to determine…Open in Informed Citizenry