Amends TCA Title 67, Chapter 5.

Present law requires the county trustee to act as collector of all county property taxes and of all municipal property taxes when the municipality does not collect its own taxes. The trustee may designate a bank that is located within the county to act as a collection agent for the trustee and accept the deposit of county and municipal property taxes. The bank must provide to the trustee on a daily basis such evidence of the taxes deposited into the account and a copy of the deposit forms.<br /> <br /> This bill revises, from every day to every three business days, how frequently banks that collect property taxes must provide evidence of such payments to the trustee.<br /> <br /> This bill also removes present law provisions that designate what credits a trustee is entitled to on a trustee's final settlement with the commissioner of revenue and deletes references to penalties that are no longer applied.<br /> <br />