Taxes, Hotel Motel - As enacted, prohibits Memphis and Nashville, with regard to hotel motel taxes, having a preexisting privilege tax or authority, from changing the designated use; authorizes those municipalities to otherwise change the allocations of the revenue, except in accordance with and subject to any other restrictions of state law relative to accommodations for transients and hotel occupancy. - Amends TCA Title 67, Chapter 4, Part 14.

This law allows the cities of Memphis and Nashville to change how they spend money collected from hotel and motel taxes, provided they do not alter the specific purpose for which the funds were originally designated. While the bill restricts these municipalities from modifying the designated use of the revenue, it grants them the authority to reallocate the funds for other purposes within the city. The change applies specifically to preexisting privilege taxes related to transient accommodations and hotel occupancy in these two locations.