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TN HB0842
Bill
Status
5/15/2025
Primary Sponsor
John Crawford
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AI Summary
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Allocates 3.25¢ of the realty transfer tax to the 1986 Wetland Acquisition Fund, prohibiting use of these funds for acquiring property through condemnation or eminent domain
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Permits expenditure of fund money on maintenance and enhancement of state-owned property under Tennessee Wildlife Resources Agency jurisdiction when the fund balance exceeds $6,000,000
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Authorizes spending on law enforcement personnel salaries, benefits, and related expenses when fund balance exceeds $6,000,000
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Allows the Commissioner of Finance and Administration, with approval from the TWRA executive director and subject to legislative appropriation, to transfer funds to the Tennessee Heritage Conservation Trust Fund
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Takes effect July 1, 2025
Legislative Description
AN ACT to amend Tennessee Code Annotated, Section 67-4-409, relative to taxes on transfers of realty.
Real Property
Last Action
Comp. became Pub. Ch. 441
5/15/2025