HB1224 - Tennessee - Housing, Real Property, Taxes, Privilege, Tennessee Housing Development Agency

Companion Bill SB0363. Housing - Earmarks a portion of the revenues collected from the recordation tax to supplement funding for existing local programs to assist the homeless or provide affordable housing for persons of low income. - Amends TCA Title 13, Chapter 20, Part 1; Title 13, Chapter 23, Part 1 and Section 67-4-409. Fiscal Summary for HB1224 / *SB0363Decrease State Revenues - $4,000,000 / General Fund Increase State Revenues - $4,000,000 / Affordable Housing and Homeless Assistance Fund Bill Summary for HB1224 / *SB0363 Subject to appropriations, this bill requires that 1 cent of the tax on recording transfers of real property be credited to a new affordable housing and homeless assistance fund to be expended by the executive director of the Tennessee housing development agency as follows: (1) 50 percent of the funds allocated [...]

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