Amends TCA Title 67, Chapter 5.
Tennessee HB2520 requires that the notification of default by a county or city in repaying a state-provided loan for financing real property reappraisal programs must be submitted in writing by the director of the division of property assessments to the commissioner of finance and administration. This bill affects counties and cities that receive such loans and establishes a formal written communication requirement for defaults. The key provision is the stipulation that notifications of default must be documented in writing.
Tennessee HB2520 requires that the notification of default by a county or city in repaying a state-provided loan for financing real property reappraisal programs must be submitted in writing by the director of the division of property assessments to the commissioner of finance and administration. This bill affects counties and cities that receive such loans and establishes a formal written communication requirement for defaults. The key provision is the stipulation that notifications of default must be documented in writing.
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