Lottery, Corporation - As introduced, requires each county to levy a tax at the rate of 5 percent of the sales price of lottery tickets or shares when sold at retail within the jurisdiction of the county; requires the state to administer the collection of the tax. - Amends TCA Title 4; Title 5; Title 6; Title 7; Title 9; Title 49 and Title 67.

SB 762 would require every Tennessee county to impose a 5% tax on the retail price of lottery tickets and digital lottery shares sold to consumers. The state Department of Revenue would collect and administer this tax, with lottery retailers responsible for monthly reporting and payment. Two percent of the tax revenue would cover administrative costs, while the remainder would be distributed per existing lottery fund rules. This bill directly affects counties (as tax leviers) and lottery retailers (as tax collectors).