| 4 | 3 | | |
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| 5 | 4 | | HOUSE BILL 95 |
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| 6 | 5 | | By Shaw |
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| 7 | 6 | | |
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| 8 | 7 | | |
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| 9 | 8 | | HB0095 |
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| 10 | 9 | | 001270 |
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| 11 | 10 | | - 1 - |
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| 12 | 11 | | |
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| 13 | 12 | | AN ACT to amend Tennessee Code Annotated, Section |
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| 14 | 13 | | 67-4-409, relative to transfers of realty. |
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| 15 | 14 | | |
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| 16 | 15 | | BE IT ENACTED BY THE GENERAL ASSEMBLY OF THE STATE OF TENNESSEE: |
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| 17 | 16 | | SECTION 1. Tennessee Code Annotated, Section 67-4-409(d), is amended by adding |
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| 18 | 17 | | the following as a new subdivision: |
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| 19 | 18 | | (4) Notwithstanding another law and except for commissions and fees retained |
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| 20 | 19 | | as otherwise provided in subdivisions (d)(2) and (3), and except for the credit of realty |
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| 21 | 20 | | transfer tax revenues to specific accounts or funds in accordance with subsections (g), |
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| 22 | 21 | | (i), (j), (l), and (m), the department shall remit back to each county, respectively, fifty |
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| 23 | 22 | | percent (50%) of the recordation taxes on the transfer of realty levied under subsection |
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| 24 | 23 | | (a) that are collected by county registers and remitted to the department, based on the |
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| 25 | 24 | | total amount of such taxes remitted to the department by county. |
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| 26 | 25 | | SECTION 2. This act takes effect July 1, 2025, and applies to transfers of real property |
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| 27 | 26 | | on or after such date, the public welfare requiring it. |
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