HB504 — Taxes, Real Property - As introduced, requires owners of property that is exempt from property tax and being used as an intermediate care facility for individuals with intellectual disabilities to agree to make payments in lieu of tax to the local taxing jurisdiction. - Amends TCA Title 33; Title 67, Chapter 5 and Title 71, Chapter 5.

HB504 — Taxes, Real Property - As introduced, requires owners of property that is exempt from property tax and being used as an intermediate care facility for individuals with intellectual disabilities to agree to make payments in lieu of tax to the local taxing jurisdiction. - Amends TCA Title 33; Title 67, Chapter 5 and Title 71, Chapter 5. · Informed CitizenryHB504 amends Tennessee Code to require owners of property exempt from property taxes that are used as intermediate care facilities for individuals with intellectual disabilities (ICF/IID) to enter…Open in Informed Citizenry