Tennessee · 114th Regular Session (2025-2026) · Bill

HB 586: Taxes, Privilege - As introduced, increases from 2.4 to 5 percent, the amount of realty transfer tax and mortgage tax collections retained as commission by county registers for collecting and reporting those taxes; requires 50 percent of such collections to be deposited in the county general fund; allocates the remaining balance to the wetland acquisition fund, local parks land acquisition fund, state lands acquisition fund, agricultural resources conservation fund, and state general fund. - Amends TCA Section 67-4-409.

In committee Last action April 9, 2025: Taken off notice for cal in s/c Finance, Ways, and Means Subcommittee of Finance, Ways, and Means Committee

Plain-language summary

HB 586 is a bill introduced in the Tennessee House on January 30, 2025. According to its official title, it concerns: Taxes, Privilege - As introduced, increases from 2.4 to 5 percent, the amount of realty transfer tax and mortgage tax collections retained as commission by county registers for collecting and reporting those taxes; requires 50 percent of such collections to be deposited in the county general fund; allocates the remaining balance to the wetland acquisition fund, local parks land acquisition fund, state lands acquisition fund, agricultural resources conservation fund, and state general fund. - Amends TCA Section 67-4-409. Primary sponsor: Rush Bricken (Republican). Most recent recorded action (April 9, 2025): Taken off notice for cal in s/c Finance, Ways, and Means Subcommittee of Finance, Ways, and Means Committee.

Sponsors

Primary sponsor: Rush Bricken (Republican).