CHAPTER NO. 604

HOUSE BILL NO. 2554

By Representatives Kisber, Rhinehart, Phelan, Fitzhugh

Substituted for: Senate Bill No. 2299

By Senator McNally

AN ACT relative to the recordation tax on mortgages, deeds of trust, and other instruments, and to amend Tennessee Code Annotated, Section 67-4-409(b).

BE IT ENACTED BY THE GENERAL ASSEMBLY OF THE STATE OF TENNESSEE:

SECTION 1. Tennessee Code Annotated, Section 67-4-409(b)(1), is amended by inserting the language "as defined in Tennessee Code Annotated, Section 47-9-115(1)(f), as added by Section 5 of Chapter 79 of the Public Acts of 1997," between the language "investment property," and the words "and mortgages or deeds of trust".

SECTION 2. This act shall take effect upon becoming a law, the public welfare requiring it.

PASSED: February 23, 1998

APPROVED this 10th day of March 1998