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Commission approves report on TVA payments in lieu, estimates modest federal-year increase
Summary
The commission approved a staff report on Tennessee Valley Authority payments in lieu of taxes (PILOT), finding federal fiscal year 2023–24 PILOT totaled about $588 million and estimating roughly $600 million for FY 2024–25; staff recommended continued monitoring and asked TVA to share a distributor list with the Department of Revenue.
The Tennessee Legislative Research Commission on reports approved the commission staff report on Tennessee Valley Authority payments in lieu of taxes, which calculated federal fiscal year 2023–24 PILOT at about $588,000,000 and estimated roughly $600,000,000 for federal fiscal year 2024–25.
The report, presented by senior research associate Jennifer Arzate, said Tennessee received about $394,000,000 of the FY 2023–24 PILOT, including roughly $340,000,000 in direct payments to counties. The staff presentation said the…
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