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

SB 986: Taxes, Real Property - As introduced, requires half the revenue collected from recordation taxes be returned to the county in which the real property is located on a recurring basis; applies to transfers of real property on or after July 1, 2025. - Amends TCA Section 67-4-409.

In committee Last action February 12, 2025: Passed on Second Consideration, refer to Senate State and Local Government Committee

Plain-language summary

SB 986 is a bill introduced in the Tennessee Senate on February 5, 2025. According to its official title, it concerns: Taxes, Real Property - As introduced, requires half the revenue collected from recordation taxes be returned to the county in which the real property is located on a recurring basis; applies to transfers of real property on or after July 1, 2025. - Amends TCA Section 67-4-409. Primary sponsor: Steve Southerland (Republican). Most recent recorded action (February 12, 2025): Passed on Second Consideration, refer to Senate State and Local Government Committee.

Sponsors

Primary sponsor: Steve Southerland (Republican).