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Tennessee · 114th Regular Session (2025-2026) · Bill

SB 2166: 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.

In committee Official data

  1. Introduced
  2. In committee
  3. Passed one chamber
  4. Passed both chambers
  5. Enacted

Last official action: ·Record last updated:

Plain-language summary

SB 2166 is a bill introduced in the Tennessee Senate on February 2, 2026. According to its official title, it concerns: 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. Primary sponsor: Bo Watson (Republican). Most recent recorded action (May 27, 2026): Comp. became Pub. Ch. 1035.

Generated automatically from the official title, sponsor list, and status record only. It does not characterize the bill’s purpose or effects. How summaries are written

Sponsors

Sponsors by party (alphabetical): Republican 1

NameRolePartyChamberDistrict
Bo WatsonPrimary sponsorRepublicanSenate11

“Support” is shown only as formal sponsorship recorded by the legislature. Roll-call votes are available on the official bill page.

Recent official actions

  1. Comp. became Pub. Ch. 1035
  2. Companion House Bill substituted
  3. Placed on Senate Regular Calendar 2 for 4/16/2026
  4. Recommended for passage with amendment/s, refer to Senate Calendar Committee Ayes 8, Nays 3 PNV 0
  5. Placed on Senate Regular Calendar for 4/16/2026
  6. Rule #83(8) Suspended, to be heard in Senate Finance, Ways & Means Committee on 4/14/2026
  7. Placed on Senate Finance, Ways, and Means Committee calendar for 4/14/2026
  8. Recommended for passage with amendment/s, refer to Senate Finance, Ways, and Means Committee Ayes 7, Nays 2 PNV 0
  9. Placed on Senate Commerce and Labor Committee calendar for 4/7/2026
  10. Action deferred in Senate Commerce and Labor Committee to 3/17/2026
  11. Placed on Senate Commerce and Labor Committee calendar for 3/10/2026
  12. Action deferred in Senate Commerce and Labor Committee to 3/10/2026

Showing 12 most recent of 16 actions. Full history

Sources

  1. Open States / Plural (data from the official legislature website)
  2. Official legislature source