BillTrack50 logo
Free Signup Login
Bill

Bill > SB1456

TN SB1456

TN SB1456
AN ACT to amend Chapter 68 of the Private Acts of 1937; as amended by Chapter 63 of the Private Acts of 2003; and any other acts amendatory thereto, relative to Hardeman County.

summary

Introduced
03/11/2025
In Committee
Crossed Over
Passed
06/04/2025
Dead
Signed/Enacted/Adopted
06/04/2025

Introduced Session

114th General Assembly

Bill Summary

Subject to local approval, increases, from 85 percent to 92 percent, the assumed property tax collection rate in setting the general tax rate for the county general fund and creating a county budget that covers expenditures for the next appropriation year. - Amends Chapter 68 of the Private Acts of 1937; as amended.

AI Summary

This bill modifies the property tax collection rate for Hardeman County's general fund budget. Specifically, it increases the assumed property tax collection rate from 85% to 92%, which will impact how the county calculates its general tax rate and develops its annual budget. The bill requires approval by a two-thirds vote of the Hardeman County legislative body before it can take effect. This means that local county officials must vote to support the change, and if approved, they must certify the decision to the Tennessee Secretary of State. The bill amends a previous act from 1937 (as amended in 2003) and is designed to give the county more accurate financial planning capabilities by assuming a higher percentage of potential property tax collection. The change could potentially provide the county with more reliable revenue projections and budgeting flexibility.

Sponsors (1)

Last Action

Comp. became Pr. Ch. 25 (on 06/04/2025)
(1 Companion Bills)

bill text

bill summary

Loading...

bill summary

Loading...
Loading...