TCA § 7-52-309 — Distribution by private act or home rule or metropolitan government charter

Notwithstanding § 7-52-307 , in the event any tax equivalent distribution provisions of any private act, home rule or metropolitan government charter direct that the tax equivalent amount to be distributed to each taxing district is to be an amount arrived at by applying the current ad valorem tax rate in that district to the depreciated original cost of the electric system's tangible property, including materials and supplies, used or usable in electric operations in that district, such distribution provisions, which are subject to § 7-52-304(5) , shall continue in effect until such time as § 7-52-304(5) ceases to be applicable, and shall then be repealed. Thereafter, in the absence of any contract as provided in § 7-52-306 , the municipality shall allocate the total tax equivalent paid for each fiscal year, to each taxing jurisdiction, in proportion to the ratio of: The value arrived at by adding the net plant value of the electric plant and the book value of materials and supplies within the boundaries of such taxing jurisdiction and multiplying that sum by the equalized property tax rate of such taxing jurisdiction; to The total of such values calculated for all taxing jurisdictions, and make such reductions as may be required under § 7-52-304(3) and (4). Acts 1987, ch. 84, § 10. NOTES TO DECISIONS 1. Repealer Provisions. 1. Repealer Provisions. T.C.A. § 7-52-309 does have the effect of repealing the allocation provisions in private acts and charter provisions, but only those which “direct that the tax equivalent amount to be distributed to each taxing district is to be an amount arrived at by applying the current ad valorem tax rate in that district to the depreciated original cost of the electric system's tangible property …” It was this qualified repealer provision to which the legislature had reference in T.C.A. § 7-52-302 , when it stated an attempt to repeal “certain provisions” of private acts affecting distribution, “but not to repeal any other provisions of such private acts.” Because Private Acts 1970, ch. 205 does not utilize the formula proscribed in this section, its validity is not affected by the repealer provision in T.C.A. § 7-52-309 . Knox County ex rel. Kessel v. Lenoir City, 837 S.W.2d 382, 1992 Tenn. LEXIS 505 (Tenn. 1992).