Tennessee HB2406 amends property tax exemptions for nonprofit entities operating premier tourist resorts.
Tennessee HB2406 modifies the property tax exemption for nonprofit entities that own or operate premier type tourist resorts. The bill limits the exemption to a maximum of 400 acres for these entities, as defined under Tennessee Code Annotated, Section 57-4-102(30)(LLLLLL). This change aims to balance tax benefits with the scale of operations for these resorts. The amendment takes effect immediately upon becoming law.
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