TN SB1044 | 2019-2020 | 111th General Assembly

Status

Spectrum: Partisan Bill (Democrat 1-0)
Status: Introduced on February 6 2019 - 25% progression
Action: 2019-03-19 - Placed on Senate FW&M Revenue Subcommittee calendar for 3/26/2019
Pending: Senate Revenue Subcommittee Committee
Hearing: Mar 26 @ 9:30 am in Cordell Hull Building
Text: Latest bill text (Draft #1) [PDF]

Summary

As introduced, exempts from real estate transfer tax, the transfer of any real estate where the transferor is a member, stock holder, or partner, the transferee is a limited liability company, corporation, or partnership, and the real estate so conveyed serves as a capital contribution to the business entity; also exempts transfers where the transferor is an LLC, corporation, or partnership, the transferee is an existing member, stock holder, or partner, and the property conveyed services as a distribution from the business entity. - Amends TCA Section 67-4-409.

Tracking Information

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Title

As introduced, exempts from real estate transfer tax, the transfer of any real estate where the transferor is a member, stock holder, or partner, the transferee is a limited liability company, corporation, or partnership, and the real estate so conveyed serves as a capital contribution to the business entity; also exempts transfers where the transferor is an LLC, corporation, or partnership, the transferee is an existing member, stock holder, or partner, and the property conveyed services as a distribution from the business entity. - Amends TCA Section 67-4-409.

Sponsors


History

DateChamberAction
2019-03-19SenatePlaced on Senate FW&M Revenue Subcommittee calendar for 3/26/2019
2019-03-19SenateAction deferred in Senate FW&M Revenue Subcommittee to 3/26/2019
2019-03-12SenatePlaced on Senate FW&M Revenue Subcommittee calendar for 3/19/2019
2019-03-06SenateAction deferred in Senate FW&M Revenue Subcommittee to 3/19/2019
2019-02-26SenatePlaced on Senate FW&M Revenue Subcommittee calendar for 3/6/2019
2019-02-19SenateRefer to Senate F,W&M Revenue Subcommittee
2019-02-11SenatePassed on Second Consideration, refer to Senate Finance, Ways, and Means Committee
2019-02-07SenateIntroduced, Passed on First Consideration
2019-02-06SenateFiled for introduction

Same As/Similar To

HB1397 (Crossfiled) 2019-02-13 - Assigned to s/c Finance, Ways, and Means Subcommittee

Subjects


Tennessee State Sources


Bill Comments

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