Amends Tennessee realty transfer tax remittance to return 50% to counties.

This bill amends Tennessee Code to change how recordation taxes on real property transfers are handled. Specifically, it mandates that the Department of Revenue remit back to each county 50% of the recordation taxes collected by county registers and remitted to the department. This change takes effect July 1, 2025, and applies to transfers of real property on or after that date.

Amends Tennessee realty transfer tax remittance to return 50% to counties.

This bill amends Tennessee Code to change how recordation taxes on real property transfers are handled. Specifically, it mandates that the Department of Revenue remit back to each county 50% of the recordation taxes collected by county registers and remitted to the department. This change takes effect July 1, 2025, and applies to transfers of real property on or after that date.