Top Legislation - View All
Latest Action: 05/23/2007 - Companion became Public Chapter 133 Bill TextEqualization Board - Changes provisions regarding when the state board will accept an appeal from the taxpayer to specify that the appeal will be accepted up to March 1 of "the year in which the time for appeal to the state board has began to run" instead of "the year in which the assessment was made." - Amends TCA Section 67-5-1412. Fiscal Summary for *HB1465 / SB2065 Decrease Local Govt. Revenues - Less than $50,000
Latest Action: 05/23/2007 - Public Chapter 133 Bill TextEqualization Board - Changes provisions regarding when the state board will accept an appeal from the taxpayer to specify that the appeal will be accepted up to March 1 of "the year in which the time for appeal to the state board has began to run" instead of "the year in which the assessment was made." - Amends TCA Section 67-5-1412. Fiscal Summary for SB2065 / *HB1465 Decrease Local Govt. Revenues - Less than $50,000
Latest Action: 04/16/2008 - Taken Off Notice For Calendar in Subcommittee Local Government of S&LG of State & Local Government Committee Bill TextCompanion Bill SB1955. Housing - Provides for the classification of certain property as affordable housing rental property. - Amends TCA Title 13 and Title 67. Fiscal Summary for HB2160 / *SB1955 Decrease Local Govt. Revenues - Exceeds $1,680,000 Bill Summary for HB2160 / *SB1955 This bill allows a property owner to apply for classification as affordable housing rental property on any assessment roll of any county by filing an application for the classification with the assessor of property. Land or improvements classified by the assessor as affordable housing rental property under the provisions of this bill will be valued in accordance with its present use value. The assessor will determine whether such land or improvements are affordable housing rental property, and, if such determination is made, the assessor will classify and include [...] show full description
Latest Action: 06/11/2007 - Assigned to Gen. Sub of: Senate Finance, Ways and Means Comm. Bill TextCompanion Bill HB2160. Housing - Provides for the classification of certain property as affordable housing rental property. - Amends TCA Title 13 and Title 67. Fiscal Summary for *SB1955 / HB2160 Decrease Local Govt. Revenues - Exceeds $1,680,000 Bill Summary for *SB1955 / HB2160 This bill allows a property owner to apply for classification as affordable housing rental property on any assessment roll of any county by filing an application for the classification with the assessor of property. Land or improvements classified by the assessor as affordable housing rental property under the provisions of this bill will be valued in accordance with its present use value. The assessor will determine whether such land or improvements are affordable housing rental property, and, if such determination is made, the assessor will classify and include [...] show full description
Latest Action: 06/06/2007 - Action Deferred in Subcommittee Budget of Finance, Ways and Means to 6/7/2007 Bill TextCompanion Bill SB2061. Industrial Development - Requires vote of approval by two thirds of county legislative body for an industrial development corporation to negotiate annual payments in lieu of taxes for less than an amount equal to property taxes that would have been available for local schools were its property not exempt. - Amends TCA Section 7-53-305. Fiscal Summary for *HB1473 / SB2061 Increase Local Govt. Revenues - Exceeds $17,500,000 Bill Summary for *HB1473 / SB2061 ON APRIL 19, 2007, THE SENATE ADOPTED AMENDMENT #1 AND RE-REFERRED SENATE BILL 2061 TO THE CALENDAR COMMITTEE. AMENDMENT #1 rewrites this bill. This amendment creates a special committee to conduct a study of payment-in-lieu-of-tax programs and their impact on education finance. The committee would consist of three members of the senate and three members of the [...] show full description
Latest Action: 04/19/2007 - Re-Referred to Senate Calendar Comm. Bill TextCompanion Bill HB1473. Industrial Development - Requires vote of approval by two thirds of county legislative body for an industrial development corporation to negotiate annual payments in lieu of taxes for less than an amount equal to property taxes that would have been available for local schools were its property not exempt. - Amends TCA Section 7-53-305. Fiscal Summary for SB2061 / *HB1473 Increase Local Govt. Revenues - Exceeds $17,500,000 Bill Summary for SB2061 / *HB1473 ON APRIL 19, 2007, THE SENATE ADOPTED AMENDMENT #1 AND RE-REFERRED SENATE BILL 2061 TO THE CALENDAR COMMITTEE. AMENDMENT #1 rewrites this bill. This amendment creates a special committee to conduct a study of payment-in-lieu-of-tax programs and their impact on education finance. The committee would consist of three members of the senate and three members of the [...] show full description
Latest Action: 06/27/2007 - Public Chapter 500 Bill TextCompanion Bill SB2198. Taxes - Enacts the "Local Tourism Development Zone Business Tax Act." - Amends TCA Title 67. Fiscal Summary for *HB2296 / SB2198State Revenues - Net Impact - Not Significant Bill Summary for *HB2296 / SB2198 This bill revises various provisions of the state's tax code, as follows: (1) Present law imposes a tax on the recordation of transfers of realty. Certain transfers are exempt from the tax, including transfers of real estate to a revocable living trust. This bill revises the exemption from the recordation tax regarding revocable trusts to instead exempt the transfers of real estate to a revocable living trust under which the real estate reverts back to the transferor if the trust is revoked. (2) Under present law, the minimum franchise tax payable under the Franchise Tax Law is $100. This bill [...] show full description
Latest Action: 06/27/2007 - Companion became Public Chapter 500 Bill TextCompanion Bill HB2296. Taxes - Enacts the "Local Tourism Development Zone Business Tax Act." - Amends TCA Title 67. Fiscal Summary for SB2198 / *HB2296State Revenues - Net Impact - Not Significant Bill Summary for SB2198 / *HB2296 This bill revises various provisions of the state's tax code, as follows: (1) Present law imposes a tax on the recordation of transfers of realty. Certain transfers are exempt from the tax, including transfers of real estate to a revocable living trust. This bill revises the exemption from the recordation tax regarding revocable trusts to instead exempt the transfers of real estate to a revocable living trust under which the real estate reverts back to the transferor if the trust is revoked. (2) Under present law, the minimum franchise tax payable under the Franchise Tax Law is $100. This bill [...] show full description
Latest Action: 06/26/2007 - Public Chapter 449 Bill TextCompanion Bill SB1300. Taxes, Ad Valorem - Imposes additional reporting requirements on lessees of industrial development corporations concerning payments in lieu of taxes; requires lessees of public building authorities, sports authorities, enterprise zone development corporations, tax increment financing projects, and city and county property to make same reports to the state board of equalization. - Amends TCA Title 7, Chapters 53 through 67; Title 13, Chapters 20 through 23 and Title 67, Chapter 5. Fiscal Summary for *HB0930 / SB1300 Increase State Expenditures - Exceeds $170,000 Increase Local Govt. Expenditures - Not Significant Bill Summary for *HB0930 / SB1300 Present law requires industrial development corporation lessees to submit an annual report to the state board of equalization by October 1 of each year. This report must contain [...] show full description
Latest Action: 06/26/2007 - Companion became Public Chapter 449 Bill TextCompanion Bill HB0930. Taxes, Ad Valorem - Imposes additional reporting requirements on lessees of industrial development corporations concerning payments in lieu of taxes; requires lessees of public building authorities, sports authorities, enterprise zone development corporations, tax increment financing projects, and city and county property to make same reports to the state board of equalization. - Amends TCA Title 7, Chapters 53 through 67; Title 13, Chapters 20 through 23 and Title 67, Chapter 5. Fiscal Summary for SB1300 / *HB0930 Increase State Expenditures - Exceeds $170,000 Increase Local Govt. Expenditures - Not Significant Bill Summary for SB1300 / *HB0930 Present law requires industrial development corporation lessees to submit an annual report to the state board of equalization by October 1 of each year. This report must contain [...] show full description
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Latest Legislation - View All
Latest Action: 03/11/2008 - Referred Delayed Bills Committee Bill TextTaxes, Real Property - Restores to 5 percent of taxes collected the amount retainable by county register of deeds for collecting and reporting state recordation tax; presently register retains 48 percent of 5 percent and 52 percent of the 5 percent goes to general fund. - Amends TCA Section 67-4-409(d). Fiscal Summary for HB4232 / *SB4237 Decrease State Revenue - $5,855,200 Increase State Expenditures - $30,000/One-Time Increase Local Revenue - $5,855,200
Latest Action: 03/10/2008 - Referred to Senate Delayed Bills Comm. Bill TextTaxes, Real Property - Restores to 5 percent of taxes collected the amount retainable by county register of deeds for collecting and reporting state recordation tax; presently register retains 48 percent of 5 percent and 52 percent of the 5 percent goes to general fund. - Amends TCA Section 67-4-409(d). Fiscal Summary for *SB4237 / HB4232 Decrease State Revenue - $5,855,200 Increase State Expenditures - $30,000/One-Time Increase Local Revenue - $5,855,200
Latest Action: 04/15/2008 - Taken Off Notice For Calendar in: State & Local Government Committee Bill TextTaxes, Real Property - Authorizes all county trustees to permit retired homeowners to pay quarterly installments on property taxes for a primary residence. - Amends TCA Section 67-5-1807. Fiscal Summary for HB4069 / *SB4066MINIMAL
Latest Action: 04/15/2008 - Assigned to Gen. Sub of: Senate S&L Govt. Comm. Bill TextTaxes, Real Property - Authorizes all county trustees to permit retired homeowners to pay quarterly installments on property taxes for a primary residence. - Amends TCA Section 67-5-1807. Fiscal Summary for *SB4066 / HB4069MINIMAL
Latest Action: 06/20/2008 - Public Chapter 1104 Bill TextCompanion Bill HB3727. Taxes - Revises various provisions governing real and personal property tax exemptions such as provision for exemption for church parsonage and provision governing exemptions for federally assisted housing. - Amends TCA Title 67, Chapter 5, Part 2. Fiscal Summary for SB3944 / *HB3727 Increase Local Revenue - $366,000 Bill Summary for SB3944 / *HB3727 This bill revises various provisions governing property tax, as follows: (1) Present law exempts from property tax the property of not-for-profit organizations funded under the federal HOME Investment Partnerships Program or funded as a special needs project under the state HOUSE program and used as permanent housing for low income and very low income persons with "permanent conditions" within the meaning of the HOUSE program. This bill revises this exemption to [...] show full description
Latest Action: 02/06/2008 - Assigned to Subcommittee Local Government of S&LG Bill TextTaxes, Real Property - Increases value of disabled person's residence on which tax relief is available from $25,000 to $28,000 on January 1, 2009. - Amends TCA Title 67. Fiscal Summary for HB3812 / *SB3119 Decrease State Expenditures - Net Impact - $13,972,700 Decrease Local Govt. Expenditures - Net Impact - Not Significant
Latest Action: 05/14/2008 - Placed on Subcommittee Calendar Budget of Finance, Ways and Means for 05/19/2008 Bill TextTaxes, Real Property - Increases value of elderly residence on which tax relief is available from $25,000 to $30,000 on January 1, 2009. - Amends TCA Section 67-5-702. Fiscal Summary for HB3821 / *SB3544 Increase State Expenditures - $2,546,000 Increase Local Govt. Expenditures - Exceeds $100,000/Permissive
Latest Action: 05/14/2008 - Placed on Subcommittee Calendar Budget of Finance, Ways and Means for 05/19/2008 Bill TextTaxes, Real Property - Increases value of disabled homeowner residence on which tax relief is available from $25,000 to $30,000 on January 1, 2009. - Amends TCA Section 67-5-703. Fiscal Summary for HB3822 / *SB3543 Increase State Expenditures - $394,200 Increase Local Govt. Expenditures - Exceeds $100,000/Permissive
Latest Action: 06/20/2008 - Public Chapter 1161 Bill TextCompanion Bill SB3951. Taxes, Real Property - Revises various provisions under the Agricultural, Forest and Open Space Land Act; requires aggregation of parcels owned by artificial entities that have at least 50 percent common ownership; authorizes late filing of applications for classification of land; makes other changes. - Amends TCA Title 67, Chapter 5, Part 10. Fiscal Summary for *HB3871 / SB3951 Increase Local Revenue - Not Significant Bill Summary for *HB3871 / SB3951 The Agricultural, Forest and Open Space Land Act provides reduced property taxes for land classified as agricultural, forest, or open space land. Present law provides that no person may place more than 1,500 acres of land within any one taxing jurisdiction for purposes of the Act. This bill provides that for purposes of determining the maximum acreage limit, a parcel will [...] show full description
Latest Action: 04/15/2008 - Public Chapter 680 Bill TextCompanion Bill HB3729. Taxes, Real Property - Revises property tax provisions in regard to remedies and assessments under appeal; places restrictions on judicial review of certain exemptions. - Amends TCA Section 67-5-1511; Section 67-5-1512, and Section 67-5-1806. Fiscal Summary for SB3942 / *HB3729 Increase State Revenue - Not Significant Increase State Expenditures - Not Significant Increase Local Revenue - Not Significant Bill Summary for SB3942 / *HB3729 Present law provides that the action of the state board of equalization is final and conclusive as to all matters passed upon by the board, subject to judicial review. This bill places restrictions on judicial review of actions by the state board of equalization. Under this bill, judicial review would not be available as to property tax exemptions requiring application to the state [...] show full description
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