CHAPTER NO. 1031
HOUSE BILL NO. 2909
By Representatives Head, Hargrove, Rinks, Lois DeBerry, Hood, Fraley, Arriola, Williams, Kisber, McDonald, Sands, Miller, Bowers, Ridgeway, Fitzhugh, Maddox, Stulce, West, Robinson, Chumney, Ronnie Cole, Pruitt, White, Cooper, McMillan, Langster, Ulysses Jones, Ralph Cole, Kent, Whitson, Newton, Lewis, Brenda Turner, Rhinehart, Davidson, Stamps, McDaniel, Pleasant, Haley, Hargett, Goins, John DeBerry, Pinion, Buck, Boyer, Wood, Sharp, Dunn, Sargent, Burchett, Patton, Ford, Godsey, Bone, Raymond Walker, Odom, Walley, Beavers, Eckles, Brown, Armstrong, Tindell, Kerr, Mumpower, Mike Walker, Scroggs, Hassell and Mr. Speaker Naifeh
Substituted for: Senate Bill No. 3129
By Senators Rochelle, McNally
AN ACT to amend Tennessee Code Annotated, Section 67-5-702 and Section 67-5-703, to revise property value used in calculation of payments in the property tax relief program.
BE IT ENACTED BY THE GENERAL ASSEMBLY OF THE STATE OF TENNESSEE:
SECTION 1. Tennessee Code Annotated, Section 67-5-702, is amended by deleting the language "fifteen thousand dollars ($15,000)" wherever it may appear and substituting instead the language "eighteen thousand dollars ($18,000)".
SECTION 2. Tennessee Code Annotated, Section 67-5-703, is amended by deleting the language "fifteen thousand dollars ($15,000)" wherever it may appear and substituting instead the language "eighteen thousand dollars ($18,000)".
SECTION 3. This act shall take effect upon becoming a law, the public welfare requiring it, and shall apply for the 1998 tax year.
PASSED: April 29, 1998
APPROVED this 18th day of May 1998