BillTrack50 logo
Free Signup Login
Bill

Bill > SB2751

TN SB2751

TN SB2751
As introduced, prohibits local governments, including special school districts, from levying real property taxes in an amount that would cause local governments to realize an increase in total revenue exceeding inflation plus 2 percent, or over a period of three tax years, inflation plus 6 percent, unless a referendum election is held by the local government to raise the tax above such amount and the referendum passes by a majority vote of the electorate. - Amends TCA Title 48 and Title 67, Chap

summary

Introduced
02/06/2020
In Committee
Crossed Over
Passed
Dead
06/19/2020

Introduced Session

111th General Assembly

Bill Summary

As introduced, prohibits local governments, including special school districts, from levying real property taxes in an amount that would cause local governments to realize an increase in total revenue exceeding inflation plus 2 percent, or over a period of three tax years, inflation plus 6 percent, unless a referendum election is held by the local government to raise the tax above such amount and the referendum passes by a majority vote of the electorate. - Amends TCA Title 48 and Title 67, Chapter 5.

AI Summary

This bill prohibits local governments, including special school districts, from increasing real property tax rates by an amount that would cause the local government to realize an increase in total revenue exceeding inflation plus 2% or inflation plus 6% over a 3-year period, unless a referendum election is held by the local government and the tax increase is approved by a majority vote of the electorate. The bill defines key terms such as "inflation," "local government," and "total revenue," and outlines the process for holding a referendum election to exceed the tax increase limitations.

Committee Categories

Government Affairs

Sponsors (1)

Last Action

Passed on Second Consideration, refer to Senate State and Local Government Committee (on 02/10/2020)
(1 Companion Bills)

bill text

bill summary

Loading...

bill summary

Loading...
Loading...