SB1198 — Taxes, Excise - As introduced, redefines "passive investment income" for family-owned noncorporate entities to include rents from commercial property for entities who qualified as an obligated member entity as of January 1, 2019. - Amends TCA Section 67-4-2008.

SB1198 — Taxes, Excise - As introduced, redefines "passive investment income" for family-owned noncorporate entities to include rents from commercial property for entities who qualified as an obligated member entity as of January 1, 2019. - Amends TCA Section 67-4-2008. · Informed CitizenrySB1198 amends Tennessee Code Annotated Section 67-4-2008 to redefine "passive investment income" for family-owned noncorporate entities. The amendment specifies that for entities that qualified as…Open in Informed Citizenry