Amends TCA Section 67-4-409.
Tennessee HB0586 amends TCA Section 67-4-409 to modify the distribution of the 5% commission retained by county registers from recordation taxes. Under the bill, 50% of this commission would be transferred to the county general fund, while the remaining taxes collected would continue to be remitted to the state treasurer for allocation to various special agency accounts. Additionally, the bill specifies that starting in fiscal year 2015-2016, 50% of the growth in recordation tax collections must be redirected to the Tennessee Civil War site preservation fund and the historic property land acquisition fund.
Tennessee HB0586 amends TCA Section 67-4-409 to modify the distribution of the 5% commission retained by county registers from recordation taxes. Under the bill, 50% of this commission would be transferred to the county general fund, while the remaining taxes collected would continue to be remitted to the state treasurer for allocation to various special agency accounts. Additionally, the bill specifies that starting in fiscal year 2015-2016, 50% of the growth in recordation tax collections must be redirected to the Tennessee Civil War site preservation fund and the historic property land acquisition fund.
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Bricken, Rush
114th General Assembly
January 30, 2025
April 9, 2025
Taken off notice for cal in s/c Finance, Ways, and Means Subcommittee of Finance, Ways, and Means Committee