TN HB1397 | 2019-2020 | 111th General Assembly
Status
Spectrum: Partisan Bill (Republican 1-0)
Status: Introduced on February 6 2019 - 25% progression, died in chamber
Action: 2019-02-13 - Assigned to s/c Finance, Ways, and Means Subcommittee
Text: Latest bill text (Draft #1) [PDF]
Status: Introduced on February 6 2019 - 25% progression, died in chamber
Action: 2019-02-13 - Assigned to s/c Finance, Ways, and Means Subcommittee
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.
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
Rep. Sabi Kumar [R] |
History
Date | Chamber | Action |
---|---|---|
2019-02-13 | House | Assigned to s/c Finance, Ways, and Means Subcommittee |
2019-02-11 | House | P2C, ref. to Finance, Ways, and Means Committee |
2019-02-07 | House | P1C. |
2019-02-06 | House | Intro. |
2019-02-06 | House | Filed for introduction |
Same As/Similar To
SB1044 (Crossfiled) 2019-04-02 - Assigned to General Subcommittee of Senate FW&M Revenue Subcommittee