SB1080 — Taxes - As introduced, requires 50 percent of collections of the recordation tax levied on transfers of realty to be remitted to each county; requires counties to use such funds for transportation infrastructure, schools, and other nonrecurring expenses. - Amends TCA Section 67-4-409.

SB1080 — Taxes - As introduced, requires 50 percent of collections of the recordation tax levied on transfers of realty to be remitted to each county; requires counties to use such funds for transportation infrastructure, schools, and other nonrecurring expenses. - Amends TCA Section 67-4-409. · Informed CitizenrySB1080 amends TCA Section 67-4-409 to require that 50 percent of the recordation tax collected on real property transfers be remitted to each county. The bill specifies that counties must use these…Open in Informed Citizenry