Tennessee 114th General Assembly Status: Enacted 1 R cosponsors

SB 2166 — AN ACT to amend Tennessee Code Annotated, Title 4; Title 38; Title 39; Title 45; Title 47; Title 49 and Title 67, relative to money transmission.

Last action — Comp. became Pub. Ch. 1035

  1. ✓
    Introduced
  2. ✓
    In Committee
  3. ✓
    Passed Senate
  4. ✓
    Passed House
  5. ✓
    To Executive
  6. 6
    Enacted

This bill has been enacted into law. Introduced February 02, 2026. Enacted.

Signed by Governor Bill Lee (Republican) on April 30, 2026.

Odds of enactment

High chance

Based on the sponsor, cosponsors, and committee posture, this bill has a high chance of becoming law.

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A statistical estimate from our own model of past outcomes — an insight, not a guarantee. Policymaking is volatile.

Prognosis

Likely to advance 72% · moderate confidence

  • Enacted

    Current position in the legislative process.

  • 1 sponsor

    1 primary, 0 co-sponsors signed on.

  • Single-party support

    Sponsorship is currently within one party (1 R).

  • Cleared a recorded vote

    Passed 5 recorded votes so far.

Based on stage, sponsorship breadth, committee status, recorded votes, and cross-state momentum — a description of the observable signals, not a prediction.

In plain language

The bill imposes a tax on money transmitted from Tennessee to locations outside the U.S.

This bill clarifies that sending money from Tennessee to other countries is a taxable service. The revenue generated from this tax will be allocated to specific funds and purposes.

What this means for you
  • Small Business: If you operate a business that involves money transmission, this bill means you will need to account for tax on those transactions.

Summary

Banks and Financial Institutions - As enacted, clarifies that the service of transmitting money from a location originating in this state to a location outside of the United States or its territories is a taxable service and that such a tax is generally levied on the amount of money transmitted; requires revenues generated from such a tax to be allocated to certain funds and purposes. - Amends TCA Title 4; Title 38; Title 39; Title 45; Title 47; Title 49 and Title 67.

Bill Text

Action History

  1. Filed for introduction

  2. Intro., P1C.

  3. P2C, ref. to Commerce Committee - Finance, Ways & Means Committee

  4. Assigned to s/c Banking & Consumer Affairs Subcommittee

  5. Placed on s/c cal Banking & Consumer Affairs Subcommittee for 3/4/2026

  6. Action Def. in s/c Banking and Consumer Affairs Subcommittee to 3/11/2026

  7. Placed on s/c cal Banking & Consumer Affairs Subcommittee for 3/11/2026

  8. Sponsor(s) Added.

  9. Rec for pass if am by s/c ref. to Commerce Committee

  10. Placed on cal. Commerce Committee for 3/18/2026

  11. Rec. for pass. if am., ref. to Finance, Ways, and Means Committee

  12. Assigned to s/c Finance, Ways, and Means Subcommittee

  13. Placed on s/c cal Finance, Ways, and Means Subcommittee for 3/25/2026

  14. Rec. for pass by s/c ref. to Finance, Ways, and Means Committee

  15. Placed on cal. Finance, Ways, and Means Committee for 3/31/2026

  16. Rec. for pass; ref to Calendar & Rules Committee

  17. Placed on cal. Calendar & Rules Committee for 4/2/2026

  18. H. Placed on Regular Calendar for 4/9/2026

  19. H. adopted am. (Amendment 1 - HA0729)

  20. Sponsor(s) Added.

  21. Passed H., as am., Ayes 68, Nays 21, PNV 3

  22. Engrossed; ready for transmission to Sen.

  23. Received from House, Passed on First Consideration

  24. Senate substituted House Bill for companion Senate Bill.

  25. Amendment withdrawn. (Amendment 1 - SA1013)

  26. Senate adopted Amendment (Amendment 2 - SA1038)

  27. Passed Senate as amended, Ayes 21, Nays 7

  28. H. Placed on Message Calendar for 4/21/2026

  29. H. concurred in S. am. no. 2 Ayes 70, Nays 19 PNV 2 HB2502

  30. Enrolled; ready for sig. of H. Speaker.

  31. Signed by H. Speaker

  32. Signed by Senate Speaker

  33. Transmitted to Governor for his action.

  34. Signed by Governor.

  35. Pub. Ch. 1035

  36. Effective date(s) 05/21/2026, 01/01/2027

  37. Filed for introduction

  38. Introduced, Passed on First Consideration

  39. Passed on Second Consideration, refer to Senate Commerce and Labor Committee

  40. Placed on Senate Commerce and Labor Committee calendar for 3/3/2026

  41. Action deferred in Senate Commerce and Labor Committee to 3/10/2026

  42. Placed on Senate Commerce and Labor Committee calendar for 3/10/2026

  43. Action deferred in Senate Commerce and Labor Committee to 3/17/2026

  44. Placed on Senate Commerce and Labor Committee calendar for 4/7/2026

  45. Recommended for passage with amendment/s, refer to Senate Finance, Ways, and Means Committee Ayes 7, Nays 2 PNV 0

  46. Rule #83(8) Suspended, to be heard in Senate Finance, Ways & Means Committee on 4/14/2026

  47. Placed on Senate Finance, Ways, and Means Committee calendar for 4/14/2026

  48. Recommended for passage with amendment/s, refer to Senate Calendar Committee Ayes 8, Nays 3 PNV 0

  49. Placed on Senate Regular Calendar for 4/16/2026

  50. Placed on Senate Regular Calendar 2 for 4/16/2026

  51. Companion House Bill substituted

  52. Comp. became Pub. Ch. 1035

Sponsors

Sponsorship breakdown

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1 sponsors · 0 co-sponsors · 132 not signed on

Sponsors (1)

Co-sponsors (0)

None.

Not signed on (132)

132 members have not signed on to this bill.

Show all 132 →

"Not signed on" means a member has not sponsored or co-sponsored this bill — it does not imply opposition. Members flagged Voted No have a recorded No vote on this bill.

Whip count is in markup. Polling the chamber and every recorded vote this session. Only the first open is slow. It’s instant for you after this. Calling the roll · Tallying · Engrossing

Votes

Subjects

taxation finance
Cross-referencing the record. Reading this bill against every other bill in the corpus by meaning, not keywords. Only the first open is slow. It’s instant for you after this. Matching · Ranking · Engrossing

Frequently asked questions

What does SB 2166 do?
Banks and Financial Institutions - As enacted, clarifies that the service of transmitting money from a location originating in this state to a location outside of the United States or its territories is a taxable service and that such a tax is generally levied on the amount of money transmitted; requires revenues generated from such a tax to be allocated to certain funds and purposes. - Amends TCA Title 4; Title 38; Title 39; Title 45; Title 47; Title 49 and Title 67.
Who sponsors SB 2166?
SB 2166 is sponsored by Watson, Bo (Republican).
What is the current status of SB 2166?
This bill has been enacted into law. Introduced February 02, 2026. Enacted.
Where can I track SB 2166?
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