SENATE BILL 643
By Campbell
HOUSE BILL 426
By Love
HB0426
002165
- 1 -
AN ACT to amend Tennessee Code Annotated, Section
67-5-212, relative to institutional exemptions.
BE IT ENACTED BY THE GENERAL ASSEMBLY OF THE STATE OF TENNESSEE:
SECTION 1. Tennessee Code Annotated, Section 67-5-212(b)(3), is amended by
adding the following as a new subdivision:
(F) In any county having a metropolitan form of government and a population in
excess of five hundred thousand (500,000), according to the 2020 federal census or any
subsequent federal census, if a nonprofit religious institution that has an associated
nonprofit business acquires one (1) or more parcels of land or portions thereof for the
purpose of carrying out one (1) or more of the exempt purposes for which the institution
was created or exists, the institution may claim and file an application for exemption
under this section, and the effective date of such exemption is up to three (3) years prior
to the date of application, or the date the institution began to use the property for exempt
purposes, whichever is later. This subdivision (b)(3)(F) applies to properties acquired
before the effective date of this act, so that such properties are not subject to taxation
under this chapter while owned by the exempt nonprofit religious institution and used for
one (1) or more of the exempt purposes for which the institution was created or exists;
provided, however, that this subdivision (b)(3)(F) does not require a county to refund any
taxes that were collected prior to the effective date of this act.
SECTION 2. This act takes effect upon becoming a law, the public welfare requiring it.