| Old | New | Differences | |
|---|---|---|---|
| 1 | 1 | ||
| 2 | 2 | SENATE BILL 469 | |
| 3 | 3 | By Bowling | |
| 4 | 4 | ||
| 5 | 5 | HOUSE BILL 586 | |
| 6 | 6 | By Bricken | |
| 7 | 7 | ||
| 8 | 8 | ||
| 9 | 9 | HB0586 | |
| 10 | 10 | 000898 | |
| 11 | 11 | - 1 - | |
| 12 | 12 | ||
| 13 | 13 | AN ACT to amend Tennessee Code Annotated, Section | |
| 14 | 14 | 67-4-409, relative to recordation tax revenue. | |
| 15 | 15 | ||
| 16 | 16 | BE IT ENACTED BY THE GENERAL ASSEMBLY OF THE STATE OF TENNESSEE: | |
| 17 | 17 | SECTION 1. Tennessee Code Annotated, Section 67-4-409(d)(2), is amended by | |
| 18 | 18 | deleting the subdivision and substituting instead: | |
| 19 | 19 | (2) | |
| 20 | 20 | (A) Of the taxes collected under this section: | |
| 21 | 21 | (i) Five percent (5%) must be retained by county registers as | |
| 22 | 22 | commission for collecting and reporting the taxes levied under this | |
| 23 | 23 | section; and | |
| 24 | 24 | (ii) Fifty percent (50%) must be retained by the county register | |
| 25 | 25 | and transferred and deposited in the county general fund without being | |
| 26 | 26 | designated for a specific purpose. | |
| 27 | 27 | (B) The remainder of the taxes collected must be remitted to the state | |
| 28 | 28 | treasurer to be deposited to the funds enumerated in subsections (g), (i), (j), and | |
| 29 | 29 | (l), subject to the allocation provided in subsection (m), and to the general fund of | |
| 30 | 30 | the state. | |
| 31 | 31 | SECTION 2. This act takes effect upon becoming a law, the public welfare requiring it. |