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Bill > HB0842
TN HB0842
AN ACT to amend Tennessee Code Annotated, Section 67-4-409, relative to taxes on transfers of realty.
summary
Introduced
02/04/2025
02/04/2025
In Committee
04/17/2025
04/17/2025
Crossed Over
Passed
05/15/2025
05/15/2025
Dead
Signed/Enacted/Adopted
05/15/2025
05/15/2025
Introduced Session
114th General Assembly
Bill Summary
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.
AI Summary
This bill modifies Tennessee's existing law regarding the 1986 Wetland Acquisition Fund, which receives 3.25 cents from a specific tax. The bill maintains the fund's original purpose of supporting wetland conservation efforts under Title 11, Chapter 14, Part 4, but expands its potential uses. If the fund balance exceeds $6 million in a monthly financial period, the money can now be used to: 1) maintain and enhance state-owned property under the Tennessee Wildlife Resources Agency's jurisdiction, and 2) support law enforcement personnel salaries, benefits, and related expenses for duties prescribed in Titles 69 and 70. Additionally, the bill authorizes the commissioner of finance and administration, with written approval from the Tennessee Wildlife Resources Agency's executive director, to transfer funds to the Tennessee Heritage Conservation Trust Fund, with some specific restrictions on how those transferred funds can be considered in future funding calculations. The bill will take effect on July 1, 2025, and does not allow the fund to be used for acquiring real property through condemnation or eminent domain.
Committee Categories
Budget and Finance, Government Affairs
Sponsors (6)
John Crawford (R)*,
Jody Barrett (R),
Scott Cepicky (R),
Rick Eldridge (R),
Lee Reeves (R),
Johnny Shaw (D),
Last Action
Comp. became Pub. Ch. 441 (on 05/15/2025)
bill text
bill summary
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bill summary
| Document Type | Source Location |
|---|---|
| State Bill Page | https://wapp.capitol.tn.gov/apps/Billinfo/default.aspx?BillNumber=HB0842&ga=114 |
| BillText | https://publications.tnsosfiles.com/acts/114/pub/pc0441.pdf |
| Amendment 2-0 to HB0842 | https://www.capitol.tn.gov/Bills/114/Amend/HA0387.pdf |
| Amendment 1-0 to HB0842 | https://www.capitol.tn.gov/Bills/114/Amend/HA0386.pdf |
| Fiscal Memo for HA0387 (4869) | https://www.capitol.tn.gov/Bills/114/Fiscal/FM0599.pdf |
| Fiscal Memo for HA0386 (7029) | https://www.capitol.tn.gov/Bills/114/Fiscal/FM1256.pdf |
| Fiscal Note - HB0842 | https://www.capitol.tn.gov/Bills/114/Fiscal/HB0842.pdf |
| BillText | https://www.capitol.tn.gov/Bills/114/Bill/HB0842.pdf |
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