Senate Bill 783 amends Tennessee Code Annotated, Section 67-5-2013, to introduce provisions regarding the collection of de minimus personal property taxes, specifically those totaling less than twenty dollars ($20.00) for individual taxpayers. The bill designates the existing language as subsection (a) and adds a new subsection (b), which allows county trustees or other property tax collecting officials, if authorized by a private act, resolution, or ordinance, to decline to bill the tax, refrain from further collection efforts, or abate any penalties or interest associated with late payment of the tax.

Additionally, the bill mandates that tax collecting officials maintain a list of these de minimus personal property taxes organized by taxpayer account and year. It stipulates that such taxes may be collected when a related tax for the same account is paid in a subsequent year, provided that the collection is not prohibited by any applicable statute of limitations. The act is set to take effect upon becoming law, emphasizing the public welfare.

Statutes affected:
Introduced: 67-5-2013