Senate Bill 1050, also known as House Bill 468, proposes an amendment to Tennessee Code Annotated, Title 7, Chapter 4, concerning taxation. The bill specifically modifies Section 7-4-107 by changing the number of years referenced in the statute from "three (3)" to "five (5)." This adjustment may impact the duration for which certain tax records must be maintained or considered.

The act is set to take effect on July 1, 2023, and will apply to records of taxes paid on or after that date. This change aims to enhance the state's tax record-keeping requirements, potentially providing a longer timeframe for tax-related documentation.

Statutes affected:
Introduced: 7-4-107