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TN HB0586

Bill

Official Source

Status

Introduced

1/30/2025

Primary Sponsor

Rush Bricken

Click for details

Origin

House of Representatives

114th General Assembly

AI Summary

  • County registers retain 5% of recordation taxes as commission for collecting and reporting the taxes

  • Counties receive 50% of recordation tax revenue, deposited into the county general fund without restrictions on how it can be spent

  • Remaining 45% of recordation tax revenue goes to the state treasurer for deposit into designated state funds and the state general fund

  • Takes effect immediately upon becoming law

Legislative Description

AN ACT to amend Tennessee Code Annotated, Section 67-4-409, relative to recordation tax revenue.

Taxes, Privilege

Last Action

Taken off notice for cal in s/c Finance, Ways, and Means Subcommittee of Finance, Ways, and Means Committee

4/9/2025

Committee Referrals

Finance, Ways & Means Subcommittee4/2/2025
Finance, Ways & Means2/5/2025

Full Bill Text

No bill text available