HB1241 - Tennessee: Revenue, Titles, Short

Companion Bill SB1139. Revenue - Enacts the "Property Tax Refund Act." - Amends TCA Title 4, Chapter 3, Part 10; Title 9, Chapter 9, Part 1 and Title 67. Fiscal Summary for HB1241 / *SB1139 Increase State Expenditures - Not Significant Increase Local Govt. Expenditures - Exceeds $100,000* Other Fiscal Impact - There will be a decrease in local government revenues based upon the provisions of the bill. The magnitude of such decrease will vary each year according to the amount of surplus property tax revenue statewide. Due to such unknowns, quantification of the precise decrease is difficult but is estimated to exceed $1,000,000 statewide. Bill Summary for HB1241 / *SB1139 This bill requires the state funding board to estimate during the present fiscal year the amount of revenue the state will receive for fiscal year 2009-2010 and [...]

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