Amends TCA Section 67-4-409.
Tennessee HB0842 amends TCA Section 67-4-409 to require the Department of Revenue to remit 50% of recordation taxes collected on real estate transfers back to the respective counties after certain withholdings and allocations. This bill affects counties in Tennessee by providing them with a share of the tax revenue generated from real estate transactions. Key provisions include the retention of 5% by county registers as a commission, with specific allocations to various state funds, and the application of these changes to transfers occurring on or after July 1, 2025.
Tennessee HB0842 amends TCA Section 67-4-409 to require the Department of Revenue to remit 50% of recordation taxes collected on real estate transfers back to the respective counties after certain withholdings and allocations. This bill affects counties in Tennessee by providing them with a share of the tax revenue generated from real estate transactions. Key provisions include the retention of 5% by county registers as a commission, with specific allocations to various state funds, and the application of these changes to transfers occurring on or after July 1, 2025.
Track Tennessee Legislation Like a Pro
Join hundreds of professionals using LegisGo to stay ahead of legislative changes.
Instant Alerts
Get notified when bills you track move through the legislature
AI Summaries
Understand complex legislation in seconds with AI-powered analysis
Full Access
All 132 legislators, committee schedules, and voting records