| 4 | 3 | | |
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| 5 | 4 | | HOUSE BILL 426 |
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| 6 | 5 | | By Love |
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| 7 | 6 | | |
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| 8 | 7 | | |
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| 9 | 8 | | HB0426 |
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| 10 | 9 | | 002165 |
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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 | | 67-5-212, relative to institutional exemptions. |
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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 67-5-212(b)(3), is amended by |
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| 18 | 17 | | adding the following as a new subdivision: |
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| 19 | 18 | | (F) In any county having a metropolitan form of government and a population in |
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| 20 | 19 | | excess of five hundred thousand (500,000), according to the 2020 federal census or any |
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| 21 | 20 | | subsequent federal census, if a nonprofit religious institution that has an associated |
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| 22 | 21 | | nonprofit business acquires one (1) or more parcels of land or portions thereof for the |
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| 23 | 22 | | purpose of carrying out one (1) or more of the exempt purposes for which the institution |
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| 24 | 23 | | was created or exists, the institution may claim and file an application for exemption |
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| 25 | 24 | | under this section, and the effective date of such exemption is up to three (3) years prior |
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| 26 | 25 | | to the date of application, or the date the institution began to use the property for exempt |
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| 27 | 26 | | purposes, whichever is later. This subdivision (b)(3)(F) applies to properties acquired |
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| 28 | 27 | | before the effective date of this act, so that such properties are not subject to taxation |
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| 29 | 28 | | under this chapter while owned by the exempt nonprofit religious institution and used for |
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| 30 | 29 | | one (1) or more of the exempt purposes for which the institution was created or exists; |
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| 31 | 30 | | provided, however, that this subdivision (b)(3)(F) does not require a county to refund any |
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| 32 | 31 | | taxes that were collected prior to the effective date of this act. |
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| 33 | 32 | | SECTION 2. This act takes effect upon becoming a law, the public welfare requiring it. |
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