Tennessee HB0586 amends recordation tax revenue distribution, allocating 5% to county registers and 50% to county general funds.
Tennessee HB0586 modifies the distribution of recordation tax revenue. Five percent of the collected taxes will be retained by county registers as a commission for their services. Fifty percent will be transferred to the county general fund without specific designation. The remaining revenue will be remitted to the state treasurer for deposit into designated state funds and the general state fund. This change takes effect immediately upon becoming law.
Included in complete analysis
- Overview
- Core Provisions
- Implementation
- Impact
- Legal Framework
- Critical Issues
See what it does, who it affects, and the critical issues in plain language. Free, 30 seconds.