House Bill 1515, also known as Senate Bill 1673, amends Tennessee Code Annotated regarding the assessment of state properties. The bill specifically revises Section 67-5-1327(c) by deleting the existing language and replacing it with new provisions. Under the amended section, the comptroller of the treasury is required to file assessments with the board of equalization by the first Monday in September, along with necessary records. Additionally, the comptroller must notify any person or entity that files an exception regarding the action taken on that exception.

Furthermore, the bill establishes a deadline for filing further exceptions, stipulating that any person or entity authorized to file an exception must do so within twenty-five days from the first Monday in September, or they will be deemed to have waived any objections to the assessments. This change aims to streamline the assessment process and clarify the rights of individuals and entities regarding property assessments in Tennessee. The act will take effect upon becoming law, emphasizing the importance of timely compliance for affected parties.

Statutes affected:
Introduced: 67-5-1327(c), 67-5-1327