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). The bill designates the existing language as subsection (a) and adds a new subsection (b) that allows county trustees or property tax collecting officials, if authorized by a private act, resolution, or ordinance, to decline to bill such taxes, refrain from further collection efforts, or abate any penalties or interest for late payment.

Additionally, the bill requires tax collecting officials to maintain a list of these de minimus personal property taxes by taxpayer account and year. It stipulates that these taxes may be collected when a related tax for the same account is paid in a subsequent year, provided that the collection is not barred 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