SB1080 amends Tennessee's recordation tax to require counties to receive 50% of collected taxes for specific uses.
SB1080 amends Tennessee Code Annotated, Section 67-4-409, concerning the recordation tax. The bill mandates that 50% of the collected recordation taxes on real property transfers be remitted to the respective counties. These funds must be used for infrastructure projects, debt service for capital projects, matching funds for state and federal projects, and other nonrecurring purposes. Counties cannot use these funds for salaries and benefits or to replace other state or local funds for county roads or bridges. The bill takes effect July 1, 2025.
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- Overview
- Core Provisions
- Implementation
- Impact
- Legal Framework
- Critical Issues
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