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Tennessee · 114

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.

Bill record: Open States bulk CSV (bills/votes) CC0-1.0

Summary AI-generated

Tennessee HB 586 proposes increasing the commission retained by county registers for realty transfer and mortgage tax collections from 2.4% to 5%. The bill requires 50% of these collections be deposited into the county general fund, with the remainder allocated to various acquisition and conservation funds and the state general fund. This legislation amends TCA Section 67-4-409.

Software-generated, grounded only in the bill's own fields (it does not invent outcomes, amounts, or dates). Provenance: Open States bulk CSV (bills/votes) CC0-1.0 GovTally LLM enrichment (local oMLX)

Issue tags AI-classified

Economy & Taxes 95% Government Operations & Budget 85% Environment & Energy 75%

Classified by a local model from the bill's text; confidence shown. GovTally LLM enrichment (local oMLX)

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