---
type: "Bill"
title: "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."
description: "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."
jurisdiction: "us/states/tn"
legislature: "Tennessee General Assembly"
session: "114"
identifier: "HB 2502"
citation: "Tennessee HB 2502 (114)"
classification: ["bill"]
subjects: ["Banks and Financial Institutions"]
status: "enacted"
primary_sponsors: ["Sexton"]
version_count: 4
action_count: 36
vote_count: 9
first_action: "2026-02-03"
last_action: "2026-05-27"
source: "openstates"
source_identifier: "ocd-bill/c74a8568-4795-405e-86c6-e4f304de68f1"
source_url: "https://wapp.capitol.tn.gov/apps/BillInfo/Default?BillNumber=HB2502&ga=114"
source_hash: "c6d1f9870e92e237d4a6579c746158127bfc087d5053e5baf2d3d4607d25f3f1"
vintage: "2026-07-01"
source_snapshot: "https://data.openstates.org/daily/2026-07-01/public.pgdump"
retrieved_at: "2026-07-06"
confidence: "reported"
tags: ["legislation", "bill", "us-tn"]
---

# Tennessee HB 2502 (114) — 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.

## Version chain

The bill's text revisions, in order — the diff chain from filing to enrollment.

1. **Amendment HA0729** (committee substitute) — [source](https://capitol.tn.gov/Bills/114/Amend/HA0729.pdf)
2. **Amendment SA1013** (committee substitute) — [source](https://capitol.tn.gov/Bills/114/Amend/SA1013.pdf)
3. **Amendment SA1038** (committee substitute) — [source](https://capitol.tn.gov/Bills/114/Amend/SA1038.pdf)
4. **Current Version** (committee substitute) — [source](https://capitol.tn.gov/Bills/114/Bill/HB2502.pdf)

## Votes

- FLOOR VOTE: MESSAGE CALENDAR CONCUR IN SENATE AMENDMENT # 2 4/22/2026 Passed (1) — **70–19** (pass) · lower
- FLOOR VOTE: as Amended Third Consideration 4/16/2026 Passed (1) — **21–7** (pass) · upper
- HOUSE CALENDAR & RULES COMMITTEE: H. Placed on Regular Calendar for 4/9/2026 4/2/2026 (3) — **0–0** (fail) · lower
- FLOOR VOTE: REGULAR CALENDAR AS AMENDED PASSAGE ON THIRD CONSIDERATION 4/9/2026 Passed (2) — **68–21** (pass) · lower
- HOUSE COMMERCE COMMITTEE: Rec. for pass. if am., ref. to Finance, Ways, and Means Committee 3/18/2026 Passed (6) — **17–4** (pass) · lower
- HOUSE FINANCE, WAYS, AND MEANS COMMITTEE: Rec. for pass; ref to Calendar & Rules Committee 3/31/2026 Passed (4) — **22–0** (pass) · lower
- HOUSE BANKING AND CONSUMER AFFAIRS SUBCOMMITTEE: Rec for pass if am by s/c ref. to Commerce Committee 3/11/2026 Passed (7) — **6–1** (pass) · lower
- FLOOR VOTE: REGULAR CALENDAR PREVIOUS QUESTION AS AMENDED PASSAGE ON THIRD CONSIDERATION 4/9/2026 Passed — **65–24** (pass) · lower
- HOUSE FINANCE, WAYS, AND MEANS SUBCOMMITTEE: Rec. for pass by s/c ref. to Finance, Ways, and Means Committee 3/25/2026 Passed (5) — **12–0** (pass) · lower

## Sponsors

- Sexton — primary (person)

## Timeline

The legislative action history — every referral, reading, and vote.

- **2026-02-03** Filed for introduction `filing`
- **2026-02-04** Intro., P1C. `introduction`
- **2026-02-05** Assigned to s/c Banking & Consumer Affairs Subcommittee `referral-committee`
- **2026-02-05** P2C, ref. to Commerce Committee - Finance, Ways & Means Committee `referral-committee`
- **2026-02-25** Placed on s/c cal Banking & Consumer Affairs Subcommittee for 3/4/2026
- **2026-03-04** Placed on s/c cal Banking & Consumer Affairs Subcommittee for 3/11/2026
- **2026-03-04** Action Def. in s/c Banking and Consumer Affairs Subcommittee to 3/11/2026
- **2026-03-09** Sponsor(s) Added. `sponsorship`
- **2026-03-11** Placed on cal. Commerce Committee for 3/18/2026
- **2026-03-11** Rec for pass if am by s/c ref. to Commerce Committee `referral-committee`
- **2026-03-18** Placed on s/c cal Finance, Ways, and Means Subcommittee for 3/25/2026
- **2026-03-18** Assigned to s/c Finance, Ways, and Means Subcommittee `referral-committee`
- **2026-03-18** Rec. for pass. if am., ref. to Finance, Ways, and Means Committee `committee-passage-favorable`
- **2026-03-25** Placed on cal. Finance, Ways, and Means Committee for 3/31/2026
- **2026-03-25** Rec. for pass by s/c ref. to Finance, Ways, and Means Committee `committee-passage-favorable`
- **2026-03-31** Rec. for pass; ref to Calendar & Rules Committee `committee-passage-favorable`
- **2026-04-01** Placed on cal. Calendar & Rules Committee for 4/2/2026
- **2026-04-02** H. Placed on Regular Calendar for 4/9/2026
- **2026-04-09** Engrossed; ready for transmission to Sen. `receipt`
- **2026-04-09** Sponsor(s) Added. `sponsorship`
- **2026-04-09** Passed H., as am., Ayes 68, Nays 21, PNV 3 `passage`
- **2026-04-09** H. adopted am. (Amendment 1 - HA0729) `amendment-passage`
- **2026-04-13** Received from House, Passed on First Consideration `introduction`
- **2026-04-16** Passed Senate as amended, Ayes 21, Nays 7 `passage`
- **2026-04-16** Senate adopted Amendment (Amendment 2 - SA1038)
- **2026-04-16** Amendment withdrawn. (Amendment 1 - SA1013)
- **2026-04-16** Senate substituted House Bill for companion Senate Bill. `substitution`
- **2026-04-20** H. Placed on Message Calendar for 4/21/2026
- **2026-04-22** H. concurred in S. am. no. 2 Ayes 70, Nays 19 PNV 2 HB2502
- **2026-04-28** Enrolled; ready for sig. of H. Speaker. `enrolled`
- **2026-04-30** Signed by H. Speaker `passage`
- **2026-05-05** Signed by Senate Speaker `passage`
- **2026-05-11** Transmitted to Governor for his action. `executive-receipt`
- **2026-05-21** Signed by Governor. `executive-signature`
- **2026-05-27** Effective date(s) 05/21/2026, 01/01/2027
- **2026-05-27** Pub. Ch. 1035

## Source

OpenStates / OpenCivicData bulk snapshot [2026-07-01](https://data.openstates.org/daily/2026-07-01/public.pgdump); origin `ocd-bill/c74a8568-4795-405e-86c6-e4f304de68f1`. Confidence: reported (aggregated from official Tennessee legislature records).