Amends TCA Title 67, Chapter 5, Part 25 and Title 67, Chapter 5, Part 28.

Generally under present law, a person, public official, governmental entity, or court is prohibited from waiving, compromising, remitting, prorating, apportioning, or releasing property taxes, penalty, interest, or court costs or the first lien that secures such amounts. Present law exempts from this provision circumstances where property taxes that have not been collected in at least 10 years after becoming delinquent are discharged and uncollectible and the sale of land by a county mayor that was purchased at a delinquent tax sale. This bill adds an exemption from the above prohibition on waiving property taxes for circumstances under the present law provision whereby a county, city, town, taxing district, or other municipal corporation may purchase property at a tax lien sale.