HB452 Summary

• Authorizes the Shelby County Property Tax Commissioner to establish procedures for electronic filing of business personal property tax returns, including payment of taxes due.

• Electronic returns must be in the format prescribed by the property tax commissioner and contain the same information as paper returns, with filing and signature requirements conforming to existing electronic tax return procedures.

• Requires electronic filing effective October 1, 2011, for businesses engaged in leasing personal property, businesses with personal property assets of $10,000 or more, and returns prepared by professional tax preparers, with temporary exemptions available for good cause.

• Mandates the property tax commissioner to conduct training sessions and assist taxpayers in learning the electronic filing procedures.

• Becomes effective immediately upon passage and approval by the Governor.