Taxes, Real Property

Plain English Breakdown

The bill summary and text do not provide details on the specific changes in property tax relief for residents.

Real Property Tax Changes

This bill amends Tennessee Code to include the directors of the office of legislative budget analysis as recipients of required cost and income limit estimates for property tax relief.

What This Bill Does

• Amends Title 67 of the Tennessee Code Annotated to require the comptroller of the treasury to provide cost and income limit estimates for property tax relief to both members of the general assembly and directors of the office of legislative budget analysis.

Who It Names or Affects

• The comptroller of the treasury
• Members of the general assembly
• Directors of the office of legislative budget analysis

Terms To Know

Comptroller of the Treasury

A state official responsible for managing financial matters, including tax information.

Office of Legislative Budget Analysis

An office that provides budget analysis and support to legislative bodies.

Limits and Unknowns

• The bill does not specify how the cost and income limit estimates will be used by the new recipients.
• It is unclear what specific changes this will bring about in terms of property tax relief for residents.

Official Summary Text

Abstract summarizes the bill.

Current Bill Text

<BillNo> <Sponsor>

SENATE BILL 2075
By Watson
SB2075
010171
- 1 -

AN ACT to amend Tennessee Code Annotated, Title 48
and Title 67, relative to real property taxes.

BE IT ENACTED BY THE GENERAL ASSEMBLY OF THE STATE OF TENNESSEE:
SECTION 1. Tennessee Code Annotated, Section 67-5-701(e)(1), is amended by
deleting "to the members of the general assembly" and substituting instead "to the members of
the general assembly and the directors of the office of legislative budget analysis".
SECTION 2. This act takes effect upon becoming a law, the public welfare requiring it.